Frequently Asked Questions

• How much does it 🧔cost to have a financial advisor?

  The cost of seeing a financial advisor will vary depending on what your goals and needs are. If you just want to create a bud♏get and select a target date fund to invest retirement savings, you can do that relatively quickly with an advisor charging around $100/hr. If you h♍ave funds to invest and you’d like an advisor to manage it for you, they may charge over 1% of your assets under management annually.

  Learn More: What Fees Do Financial Advisors Charge?
• Can a client sue their financial advisor?

  Yes, clients can sue their financial advisor for negligence or malpractice, including breaches of fiduciary duty and regulatory noncompliance. Advisors can protect themselves from unexpected and costly claims by gett💙ing professional liability insurance.

  Learn More: What Advisors Must Know About Profe💃ssional Liabi💛lities Insurance
• Are financial advisor𒅌s allowed to sell life insurance?

  Yes, financial advisors are allowed to sell their clients life insurance policies. Life insurance policies make financial sense for a lot of people, which is one reason financial advisors will recommend these policies. Though it is also true that advisors who se🎉ll life insurance can receive large upfront commissions and annual commissions of♒ 3% to 5% for the remainder of the policy’s term.

  Learn More: Why Financial Advisor Sell Life Insurance
• How much do financial advisors make?

  🌟T𒆙he average salary for a financial advisor in the United States was about $120,000 in 2021.

  Learn More: Financial Advisor Career: Pros and Cons
• Are there any resources available that can pre🧸pare financial advisors and their💝 clients for meetings?

  Yes, Investopedia offers Financial Advisor Discussion Guides—downloadable PDFs that cover a variety of financial topics. Each guide inclu🤪des sections like “Why Does This Matter Now?” and “Where to Start,” along with fillable sections for “Questions to Ask Yourself” and “Questions for a Financial Advisor.”

  Learn More: Financial Advisor Discussion Guides