Frequently Asked Questions

• How muchไ 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 budget and select a target date fund to invest retirement savings, you can do that relatively quick𓆉ly with an advisor charging around $100/hr. If you have funds to invest and you’d like an advisor to manage it for you, they may charge over 1% of your asset𓂃s 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 negligenc꧑e or malpractice, including breaches of fiduciary duty and regulatory noncompliance. Advisors can protect themselves from unexpected and costly claims by getting professional liability insurance.

  Learn More: What Advisors Must Know Abouไt Professional Liabilities Insurance
• Are financial advisors allo൩wed to s𒁏ell life insurance?

  Yes, financial advisors are allowed to sell their c✅lients 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 sell 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?

  The average salary for a financial advisor in the United Stateꩵs was about $120,000 in 2021.

  Learn More: Financial Advisor Career: Pros and Cons
• Are there any resources available that 🦋can prepare 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 includes sections like “Why Does This Matter Now?” and “Where to Start,” along with fillable sꦇections for “Questions to Ask Yourself” and “Questions for a Financial Advisor.”

  Learn More: Financial Advisor Discussion Guides