Financial advisors are an invaluable resource to help you manage your finances and reach your goals. According to a study by Vanguard, having one by your side can increase your portfolio’s value by up to 3%. At ComparisonAdviser, we break down everything you need to know about hiring a professional, including the different types, how much they cost, and how to find one.
Financial Advisor Basics
What Is a Financial Advisor?
Aug 30, 2024
Talking to an Advisor? What to Know
Aug 30, 2024
Fee-Only vs. Fee-Based Financial Advisors
Aug 30, 2024
Do I Need a Financial Advisor?
Aug 30, 2024
Types of Financial Advisors
What Is a Financial Planner?
Dec 8, 2023
What Is an Investment Manager?
Aug 2, 2024
What Is a Wealth Manager?
Aug 22, 2024
What Is a Certified Financial Planner (CFP)?
Feb 23, 2024
Advisor Firm Reviews
Edward Jones
Fidelity Wealth Services
Vanguard
Ameriprise
Robo-Advisor Reviews
Betterment
SoFi
Wealthfront
Merrill Guided Investing
Featured Articles
Are Financial Advisor Fees Negotiable?
Jan 10, 2024
Discretionary vs. Non-Discretionary Management
Nov 14, 2024
What Is a Flat-Fee Financial Advisor?
Nov 23, 2023
Frequently Asked Questions
How much does a financial advisor cost?
This depends largely on the fee structure an advisor uses to charge you. Many, including most fiduciaries, charge you a percentage of your assets under management (AUM). This typically hovers around 1% but may drop as your AUM rises.
How do I spot a conflict of interest?
A conflict of interest arises when a professional’s goals don’t align with yours. This often manifests when they could earn a commission for recommending certain products or investments. In this case, they may be more inclined to make suggestions that earn them a higher payout rather than serving your best interest.
What is a fiduciary in finance?
A fiduciary is an individual or firm that must legally act in a client’s best interest at all times. In the context of financial advisors, these are typically those with special designations that bind them to such a duty, such as certified financial planners (CFPs), chartered financial analysts (CFAs), registered investment advisors (RIAs), and investment advisor representatives (IARs).
What is a robo-advisor?
A robo-advisor is an automated portfolio manager that firms typically offer at an affordable price. After you answer questions regarding your goals, risk tolerance, and time horizon, it will build your portfolio for you. Often, robo-advisor portfolios comprise low-cost ETFs or mutual funds that align with your goals.