Financial Planning

Looking for an Hourly Financial Advisor?

By  Brian Thorp

Disclaimer: To make Wealthtender free for our readers, we earn money from advertisers, including financial professionals and firms that pay to be featured. This creates a natural conflict of interest when we favor their promotion over others. Wealthtender is not a client of these financial services providers. Learn how we operate with integrity to earn your trust.

Are you wondering if an hourly fee financial advisor is right for you? A growing number of financial advisors work on an hourly basis, with prices ranging from $150 to $400+ per hour. These prices do not change based on your total assets managed, so you’re only paying for the time you need with the advisor.

If you’re thinking about hiring an hourly fee financial advisor, it’s important to understand what services you’ll receive with an estimate upfront of the number of hours you can expect to be billed based on your individual circumstances.

For example, if an advisor charges a $2,500 retainer fee at $250 an hour, you’ll have 10 hours of planning services available to use throughout the year. Each additional hour would then be billed at the normal hourly rate.

Some hourly financial advisors will give you full-service management of your investment portfolio (there may be additional fees for this), while others will only bill for 1:1 time and leave the money management and investing up to you (based on their guidance).

Should I Hire a Financial Advisor Who Charges an Hourly Rate?

If you primarily want access to a financial advisor to answer questions, offer reassurance and suggestions to your own ideas, and help you build a financial plan, paying for an hourly-based financial advisor may be a good fit.

Expert Insights: When Does It Make Sense for Me to Hire an Hourly Financial Advisor?

Ryan Firth

Founder and President of Mercer Street Personal Financial Services

Q: When does it make sense for me to consider hiring a financial advisor who charges an hourly rate?

Ryan: Hourly (or time-based) advice is highly flexible. It tends to make sense for someone who can self-implement recommendations, someone who is hands-on when it comes to their personal finances. For example, if you’re looking for a second opinion on your investment portfolio or just need one-off financial advice, then a time-based fee for service (i.e., “hourly”) might be just what you’re looking for.

If you tend to delegate tasks or want someone to manage your investments for you, then hourly advice might not be a good fit for you. One of the cool things about hourly planning is that there really aren’t any restrictions on the type of clients that an advisor can work with.

View Ryan’s Profile on Wealthtender

📍 Click on a pin in the map view below to discover hourly financial advisors who can work with you to develop a personalized financial plan. Or click the Grid option to view these advisors in a directory.

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Are You an Hourly Financial Advisor?

👋 Hi there! We’re excited to help more people understand the benefits of working with financial advisors who charge an hourly rate. And we want to help connect people to the best financial advisors for their individual needs. If you offer services for an hourly rate, we encourage you to join our growing community of financial advisors featured on Wealthtender so we can add you to this guide soon. Click here to learn more and get started.

About the Author
A headshot of Brian Thorp, the founder and CEO of Wealthtender

About the Author

Brian Thorp

Brian is CEO and founder of Wealthtender. He and his wife live in Texas, enjoying the diversity of Houston and the vibrancy of Austin.

With over 25 years in the financial services industry, Brian is applying his experience and passion at Wealthtender to help more people enjoy life with less money stress.

Connect with Brian on LinkedIn

Disclaimer: To make Wealthtender free for our readers, we earn money from advertisers, including financial professionals and firms that pay to be featured. This creates a natural conflict of interest when we favor their promotion over others. Wealthtender is not a client of these financial services providers. Learn how we operate with integrity to earn your trust.