Ask Terry Questions IRA Financial consultant fee

IRA Financial consultant fee

By Terry Savage on August 09, 2023 | Financial Planning / Retirement

My financial consultant is charging 0.9% per year for as long as I want him from Fidelity. Is that the going rate?

Terry Says

Are you happy with your investments? Do you need handholding — now or if the market “crashes”? If you think you can do it yourself, and have the discipline to stick with your plan — and if the “consultant” is not doing other planning for you (tax, estate, health insurance, etc), then you don’t need the consultant.

Just under 1% is about right IF you’re getting all those services. But if you’re not using them, don’t pay!! Just stick with the investments you have.

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