With a volatile stock market, potential recession alerts and high inflation, investors are (understandably) looking to safeguard their assets.
The move to consider? Professional financial advice. Investment firm Charles Schwab analyzed its customers' account data, and the research shows investors who work with a financial advisor have saved nearly twice as much for retirement as those who don't.¹ Learn more about the potential value of financial advice so you can work towards a comfortable retirement.
Why Work With a Financial Advisor
Working with a financial advisor could help you gain access to a wealth of potential benefits, including their intricate knowledge of financial markets, access to exclusive investment vehicles, and their ability to navigate complex tax and estate planning regulations. All of which could help expand your portfolio, mitigate risk and help alleviate financial stress.
While the idea of seeking professional advice may seem like an unnecessary expense, the cost of not working with a financial advisor could be far greater. A 2021 AdvisoryHQ study found that the average AUM fee for a $50,000 account was about 1.18% or just $590 with average fee percentages declining as portfolio balances increase. In fact, the study found that the average annual advisor fee for $1 million portfolio was just $10,200.²
How to Find a Vetted Financial Advisor
SmartAsset's no-cost tool simplifies the time-consuming process of finding a financial advisor. A short questionnaire helps match you with up to 3 vetted financial advisors serving your area. Advisors are rigorously screened through a proprietary due diligence process and legally bound to work in your best interest. It's never too late to work towards a more comfortable retirement.
Get your financial advisor matches today »
| Try SmartAsset's Financial Advisor Matching Tool
Get retirement ready. Try this no-cost tool to get matched with up to 3 vetted financial advisors serving your area. | 122 E 42nd St #4300, New York, NY 10168 | Sources:
1. "SDBA Indicators Q4 2022 Report". Charles Schwab. (March 2023).
2. "What are the Average Financial Advisor Fees & Investment Fees Being Charged in 2021?", AdvisoryHQ (July 2021) The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of your future results. Please follow the link to see the methodologies employed in the AdvisoryHQ study.
This article contains links to SmartAsset's financial advisor matching tool, which may or may not match you with the firms mentioned in this profile. The matching tool does not include all available advisors and firms and matches based on specific criteria (investable assets, geography, and willingness to work with a remote advisor).
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). 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 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 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.
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). SmartAsset is not a financial planner, broker or tax adviser. The Service is intended only to assist you in your understanding of financial organization and decision-making and is broad in scope. Your personal financial situation is unique, and any information and investing strategies obtained through SmartAsset.com may not be appropriate for your situation. Accordingly, before making any final decisions or implementing any financial strategy, you should consider obtaining additional information and advice from your accountant or other financial advisers who are fully aware of your individual circumstances. |
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