How much should financial advice cost?

1 min readLast updated February 12, 2024by Kate Morgan

Find out what financial advice costs when you hire a professional and what you get in return when paying for this beneficial service.


  • There are several different types of financial advisor fee structures in use. 

  • Fees may be charged by the hour, at a set rate, based on commission, or as a percentage of assets. 

  • Financial advice saves you money in the long term as it helps you to make better financial decisions. 

  • Financial planning costs are a worthwhile investment in your future. 

What are the different types of financial advisor fees? 

There is no one-size-fits-all for financial advisor fees.  

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Each financial advisor or advisory firm sets their own rates based on experience, resources, specialization, and skill level. The amount can also vary depending on if the advisor is independent or an employee of a financial advisory firm.  

However, there are a few fee structures that are generally applied to the cost of financial advice, and these are as follows: 

  • Hourly fees – Hourly fees are when a financial advisor charges clients on a set hourly basis; this varies from advisor to advisor but can typically be between $120 and $330 an hour.  

  • Commission – Commission fees are based entirely on the products or specific services provided by a financial advisor. For instance, insurance packages or mutual funds, which the financial advisor would receive a commission for every time they sold one to a client. 

  • Fixed-fee – Fixed-fee financial advice is a payment structure in which a financial advisor charges a set rate for providing advice or guidance for a specific financial strategy. Fixed-fee financial advice typically ranges between $7,500 and $55,000 per client.  

  • Percentage of assets – In some cases, a financial advisor may charge their client based on a percentage of said client’s overall asset worth. This entails them deducting a percentage (typically 2-5%) of your account balance every month based on what’s in there at the time.  

​To gain an even deeper understanding of the different types of financial advisor fees, let’s take a look at the pros and cons of each: 

Hourly fees 

Pro: Accessible and easy to track for first-time clients 

Con: Unpredictable payment outcome. Lengthy arrangements can go on indefinitely 


Pro: Easy, clear planning and expectations 

Con: Underestimation of services can lead to inflated fees 


Pro: Potential cost-savings for clients 

Con: Advisors may encourage clients to obtain unnecessary products/services 

Percentage of assets 

Pro: Rates are consistently relative to what clients earn, stabilizing the rates 

Con: The more you earn, the more you pay 

How can financial advice save you money? 

Although financial advisor fees can feel expensive in the short term, the long-term financial benefits of obtaining them are undeniably positive.  

By hiring an expert to handle and strategize your finances, you can make the most growth-oriented and productive financial decisions possible, leading to more sustainable wealth over time.  

Is hiring a financial advisor worth it? 

If you can find the right financial advisor for your situation, the financial planning costs are absolutely worthwhile in the long run.  

There are many benefits beyond just saving money that sound financial advice can provide, such as:  

1. Reach your financial goals  

One of the biggest and most obvious benefits of hiring a financial advisor is that they can assist you in both setting and reaching financial goals. For example, if you want to start investing in stocks but aren’t sure where to start, a financial advisor can provide the necessary guidance for kick-starting an investment career.  

2. Become educated on financial management  

Another advantage to paying for financial advisory fees is that you get access to expert-level financial advice from someone who understands the industry beyond typical means. You can take what you learn and use it to inform your financial circumstances further.  

3. Grow your wealth  

The cost of financial advice may feel high at times, but the reward is well worth the investment. A financial advisor will help you to manage and multiply your wealth over time.  

How to find a financial advisor 

The cost of financial advice is very low when compared to the insights, consistency, and long-term cost savings that it can provide. As there are many different fee structures available, it’s also possible to ensure your financial planning costs align with your budget.  

Finding a financial advisor is a simple process, and Unbiased makes it easier than ever. 

Unbiased will match you with a financial advisor whose services and skill level match your needs. If you are ready to start reaping the benefits of professional financial advice, get matched now. 

Content writer

Kate Morgan

Kate has written for leading publications and blue chip companies over the last 20 years.

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