When determining the cost of financial advice, consider some of the below things before making a final decision. They are: –
Fee Structure: Find out if the advisor takes a portion of the assets under management (AUM), an hourly rate, or a fixed fee.
Services Offered: Assess the advisor’s scope of services and ascertain whether the costs correspond with the degree of assistance you need.
Performance: Evaluate the advisor’s past achievements and determine whether the fees they have been charged are justified.
Openness: Make sure that all costs and possible conflicts of interest are transparent.
Compare Rates: Examine the advisor’s charges in relation to industry norms and those of other advisors providing the same services.