The Cost of a Financial Advisor for $1M+ Portfolios

Sponsored As wealth grows, financial decisions tend to become more complex, and more consequential. Understanding how advisory fees typically work at higher asset levels may be able to help you evaluate whether professional financial advice might be appropriate for your situation. Are Advisor Fees Worth the Cost? SmartAsset investigated the relationship between the cost of an advisor and their potential value. The result? Advisor fees, generally ranging from 1% to 0.75% annually depending on net worth of the client, made up an estimated 23.0% to 35.4% of the total value surplus generated by the client-advisor relationship.1   While outcomes are never guaranteed, even modest improvements in tax efficiency or risk control can potentially help outweigh advisory fees over time. In fact, SmartAsset's latest proprietary model reveals that working with a financial advisor could potentially add from 36% to 212% more dollar value to investors' portfolios over a lifetime, depending on multiple unique, individual factors.1 Final lifetime net worth with and without a financial advisor. See disclaimer below. If you're evaluating whether professional guidance could potentially improve your tax efficiency, risk management, or long-term planning, speaking with a fiduciary financial advisor may help clarify your options. SmartAsset's no-cost tool can help you find and compare vetted fiduciary advisors who serve your area, each legally bound to work in your best interest. It's never too late to plan to work toward a comfortable retirement. Take Advisor Matching Quiz This Quiz Matches nearly 50,000 People Each Month with Vetted  Fiduciary Financial Advisors SmartAsset 122 E 42nd St #4300, New York, NY 10168 Disclaimer: This example demonstrates the potential final lifetime portfolio value, accounting for estimated investment returns, tax savings and inflation over different life stages for an individual starting with $500,000 at age 45, through age 77. Under a set of core assumptions, this consumer profile is projected to have a final lifetime portfolio value of approximately $3.24 million if retaining the services of a financial advisor – not accounting for additional savings or portfolio withdrawals – versus a final estimated lifetime portfolio value of $1.56 million without the services of a financial advisor. This example is based on the valuation framework presented in SmartAsset's whitepaper "The Value of a Financial Advisor: What's It Really Worth?" (Nov. 2024). The value of professional financial advice is only an illustrative estimate and varies with each unique client's individual circumstances and portfolio composition. Carefully consider your investment objectives, risk factors, and perform your own due diligence before choosing a financial advisor. This is a hypothetical example and is not representative of any specific security. Actual results when working with a financial advisor will vary. This scenario is for illustrative purposes only and does not represent an actual client. Results may vary. This is not an offer to buy or sell any security or interest. All investing involves risk, including loss of principal. Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns). Past performance is not a guarantee of future results. There are no guarantees that working with an adviser will yield positive returns. The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest. SmartAsset.com is not intended to provide legal advice, tax advice, accounting advice or financial advice (Other than referring users to third party advisers registered or chartered as fiduciaries ("Adviser(s)") with a regulatory body in the United States). The article and opinions in this publication are for general information only and are not intended to provide specific advice or recommendations for any individual. We suggest that you consult your accountant, tax, or legal advisor with regard to your individual situation. SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. Securities and Exchange Commission as an investment adviser. SmartAsset's services are limited to referring users to third party advisers registered or chartered as fiduciaries ("Adviser(s)") with a regulatory body in the United States that have elected to participate in our matching platform based on information gathered from users through our online questionnaire. SmartAsset receives compensation from Advisers for our services. SmartAsset does not review the ongoing performance of any Adviser, participate in the management of any user's account by an Adviser or provide advice regarding specific investments. We do not manage client funds or hold custody of assets, we help users connect with relevant financial advisors. Sources: 1. "The Value of a Financial Advisor: What's It Really Worth?" SmartAsset (Nov. 2024)   This email is a paid advertisement. 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