Christopher Letendre

 When it comes to selecting a financial adviser , the cost is likely to be the most scrutinized factor. You should be aware of ALL costs, including the cost of purchasing a mutual fund or receiving advice. Mutual funds include expense ratios that should be factored into your overall fees. Some consultants offer a flat price, while others charge by the hour. Inquire about all costs and how they are determined, and get a formal contract from your potential advisor. Commission-based advisers often receive a commission on any financial products or transactions done with their customers. A normal transaction commission is from three to six percent. This form of charge is not a bad alternative for experienced investors, as long as they know what they're doing and don't rely on their advisor's advice. However, you should be mindful of potential conflicts of interest if the adviser is paid on a commission basis. In a flat-rate approach, an adviser is compensated for the time spent

Christopher Letendre pointed out that several factors might impact the investment advising fee. For instance, the sort of charge you pay may be determined by the size of your portfolio. You can locate fee-only financial advisers in Part 2 of the SEC-filed Form ADV. In addition, a flat cost is typically cheaper than a fee based on commission. A yearly flat rate of 1.30 percent is reasonable. Mutual fund charges may account for up to 1.98 percent of the cost. The amount of commission paid will decrease as the amount invested increases. Investment adviser fees vary greatly based on their experience and your financial objectives. Some fee models, for instance, charge as low as 1 percent for self-service accounts, while others charge up to 3.5 percent for fixed-income unit trusts. Some financial advisors, such as Edward Jones, ask you to pay a one to five percent set advising fee on your investment. A few businesses provide full wealth management planning at a premium price. A platform fee