Do most financial advisors charge a flat amount? Do you prefer a flat amount or a percentage of the earnings?
No, generally financial advisors charge a percentage of the
assets they manage .It might range from 0.5% to 2%. Flat fee is
only for special projects or cases.
Percentage of earnings is preferable because higher the earnings
more the commission they will receive. It is mutually beneficial to
investor and the financial advisors. Flat fee doesnot provide
enough incentive to the advisors to outperform in their
investments.
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