A List of Low Cost Financial Advisors (Say NO to 1% Advisors)
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Investment advisors charging one percent of the investments they manage for you is the industry norm. Many charge more than that.
Not sure how fees may affect your wealth over time, then check out this report.
In an effort keep more of your money in your pocket, I’ve created this list of low cost financial advisors. It includes both flat-fee advisors as well as those who charge 50 basis points (1/2%) or less.
Please understand that I am not recommending these advisors. You’ll need to do your own due diligence to determine whether they are a good fit for your financial needs and goals.
Mark Zoril
Fees: $389 the first year, then $8/month
Services: Financial planning, investment management
Website: https://planvisionmn.com/
Jack Zarinsky
Fees: Charges a one upfront flat fee and annual flat fee (details here)
Services: Financial planning, investment management and tax preparation
Website: https://mysafebridge.com/
Jon Luskin, CFP
Fees: For a one-time financial review, you pay a one-time fee: $3,695. Additional in-depth work (many clients don’t need this) and returning clients are billed at $350 an hour.
Services: Hourly advice for DIY investors.
Website: https://jonluskin.com/
Andrew Dressel, CFP®, APMA®, CRPC®
Fees: $375-$450 start-up fee, then $89-$139/month
Services: Financial planning
Website: https://www.abundowealth.com/
Michael T. Powers, CPA, PFS, CFP®
Fees: $2,500 initial fee + an ongoing fixed fee of $5,000+ per quarter
Services: Retirement planning and investment management (tax preparation available through another firm)
Website: https://manukafinancial.com/
Lorne Abramson, CFA, CFP®, EA
Fees: Flat fee based on services provided
Services: Financial review, Comprehensive retirement plan, hourly consultation
Website: https://abramsonfp.com/
Chris Urban, CFP®, RICP®
Fees: First year: $9,900 to $12,000; subsequent years: $9,000 to $9,900
Services: All aspects of our ongoing financial planning, health care planning, tax planning and investment management services.
Website: https://www.discoverywp.com/
Here’s a list of flat-fee planners put together by Cody Garrett, CFP.
Here’s a list of flat-fee and advisors put together by Sara Grillo.
If you know of other advisors who should make this list, please let me know.
Rob Berger is a former securities lawyer and founding editor of Forbes Money Advisor. He is the author of Retire Before Mom and Dad and the host of the Financial Freedom Show.