- Michael DiBartolomeo
Is 1.5 High for a Financial Advisor?
Updated: Feb 24, 2022
When someone wants to hire certified financial advisors in Pittsburgh, they often wonder if it's worth it or not. Consequently, they might want to know how much they should pay for the expert's services. This guide offers basic information for beginners to understand how professionals charge their fees, and whether or not a certain sum is too much.
What a Financial Advisor Can Do
Many people believe hiring financial advisors is throwing money away because they wrongly think that managing their finances is an easy job. However, once they start facing challenges, they may quickly realize that things are not as straightforward as they appear.
Financial advisors are certified professionals who are prepared to help people make the best decisions with regard to their assets. They can guide someone so they know how to organize their money, they can suggest convenient alternatives, and they can also recommend specific stocks or investment opportunities.
Even though not everyone chooses to hire a financial advisor, paying for their services can be of great help, especially if they're professionals from Kelley Financial Group since they're top experts ready to give each client the advice they need.
Why a Financial Advisor Can Help People
Each financial advisor has certifications that back their knowledge and experience, which means they are different from people who don't know much about this area. At the same time, they often specialize in something very specific, so they can offer precise recommendations to all their customers.
Furthermore, people who seek financial advice are often confused. They don't know what they should do next, and they need an advisor to guide them through the process.
Instead of choosing random alternatives without knowing if they're making the right choice or not, people can hire a specialized financial advisor, who can examine their case and provide accurate suggestions depending on the goals they want to achieve.
Once the financial advisor evaluates the person's case, they might suggest different alternatives to help them reach their goals, for example, investing in specific stocks instead of others. Thus, they can provide knowledge that the client would not be able to obtain otherwise.
Different Fees a Financial Advisor Can Charge
Financial advisors charge different fees depending on the case, the client, and their specialty. It completely depends on who the person's hiring, which is why it's so important to contact professionals like the ones at Kelley Financial Group.
When someone hires a financial advisor, the professional might charge hourly rates, which would allow the client to meet them how many times they desire.
However, in other cases, the experts charge a specific percentage of the clients’ assets, and that can be an advantage for some people and a disadvantage for others.
If someone, for example, has millions of dollars in assets, paying for a one percent fee might not represent much, and they could find it more convenient than hourly rates. Nonetheless, people with less money may not think the same.
Overall, the amount of money the financial advisor charges greatly varies. Therefore, to find out specific fees, people must ask the experts or consult with the company they want to hire. Otherwise, they may not be able to know how much they have to pay.
Is 1.5 High for a Financial Advisor, or Should People Agree to that Fee?
When people start comparing the prices of different financial experts, they might wonder 'is 1.5 high for a financial advisor?' and that's completely expected, especially if they've never worked with this type of professional before.
The most pivotal aspect to keep in mind is that prices can affect people in different ways. In other words, that specific percentage might be convenient for some clients but not for others.
There is no rule that applies to everyone in the economy and finance world. Thus, even though some clients might believe paying that amount of money is too much for a financial advisor, others may think it's fair.
People who ask, 'Is 1.5 high for a financial advisor?' must evaluate their own possibilities and determine if it's convenient for them or not since it depends on the case. Experts at Kelley Financial Group can help all clients looking for professional help, and they are ready for anyone looking for guidance.