A fiduciary financial advisor may be able to help evaluate your investments, optimize a tax strategy to help lower your liability, and identify other ways to help you achieve your retirement goals.
But you might wonder if their cost is justified.
In some cases, the value a financial advisor provides may greatly outweigh the costs.
SmartAsset's research reveals advisor fees, generally ranging from 1% to 0.75% annually depending on net worth of the client, make up only an estimated 23.0% to 35.4% of the total value surplus generated by the client-advisor relationship.1
A financial advisor or wealth manager who helps harvest losses, plan out Roth conversion timing, or helps unwind concentrated stock may offset far more than a 10-basis-point fee savings.
Access to private credit deals, estate-tax strategies, and behavioral coaching during volatility may also validate an advisor's cost.
SmartAsset's latest proprietary model reveals that working with a financial advisor could potentially add from 36% to 212% more dollar value to investors' portfolios over a lifetime, depending on multiple unique, individual factors.2
That's why we created a free tool to help match you with vetted financial advisors who serve your area, each legally bound to work in your best interest.
It's never too late to plan to work toward a comfortable retirement. Get your financial advisor matches today.
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