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Financial advisor

By Terry Savage on June 16, 2024 | Financial Planning / Retirement

Dear Terry, I wanted to ask you your opinion on financial advisor fees and also when do you know, when it’s time to find a new advisor.
Thank you for all the years of advice,

Terry Says

I only recommend fee-only financial planners, those who do not get additional reimbursements from commissions, management fees from the funds they recommend etc.  The annual fee should be based on the kind of planning needs you have, so it’s hard to tell.  For sure you’ll want an overall analysis for the first year — one that covers your living/income plan, taxes, estate planning, insurance and more.  Then the fees after that will depend on whether this planner is also giving ongoing investment advice, and how frequently you feel the need to meet.

And yes, it’s always wise to review your situation and compare.  That’s why I recommend Wealthramp, which will match you with a fee-only FIDUCIARY advisor that has been carefully vetted by Pam Krueger.

Read this: Pam Krueger Wealthramp – Terry Savage

Even if you decide not to make a change, you’ll learn a lot.  Remember to ask questions:  about fees, style, how the relationship would work.  Then trust your instincts.

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