Financial Planner charges to manage portfolio
I was wondering what folks pay financial planners or investment counselors to manage their investment portfolios. Do you pay a percentage of the assets managed? If so, what percentage? Does it vary by how much you have in the portfolio being managed? Or do you pay a flat amount? Again does it vary by the amount of your portfolio? Trying to figure out what is reasonable.
Thanks.
Sep 2, 2016
Parent Replies
It really depends. I don't pay my financial planner anything. This is, I believe, partly because of the products I invest in and partly because of the planner's business model. I know that many advisors do charge fees, and this depends on the company's practices. I like that I don't pay anything :)