The Question
Paying Advisor 1% to manage $1MPaying Advisor 1% to manage $1M
If I have $1m under mgt, should I pay a lower fee than 1% from a Florida-based advisor for advisory services?
The industry standard for financial advisor fees is often around 1% of assets under management, so for a $1 million portfolio, that’s $10,000 annually. However, depending on your needs, flat-fee advisors can provide equal or even better value.
Flat fees are predictable—e.g., $6,000 annually—with no surprises or hidden costs.
A flat fee reflects the complexity of your financial situation rather than the size of your portfolio, ensuring advice tailored to your goals.
In many cases, a flat fee may save you money while still delivering comprehensive, personalized planning.
Ultimately, the right fee structure depends on what works best for you. It’s worth exploring whether a flat-fee advisor aligns with your needs.
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