Advisors
You can hire Investment Advisors or Financial Planners, to help you do the work.
A list from most expensive to free.
- If you have 100M+ invested assets, you should look into a Family Office.
- If you have 30M+ invested assets, you should look into a Multi-family office(i.e. you share a family office with a few other high net worth people).
- Insurance companies in disguise as a financial advisor are not financial advisors, they are insurance salesman.
- Edward Jones will do it for you for ~ 2%/yr, which is ridiculously high.
- Any of the big banks or brokerages will quite likely do it for less than Edward Jones.
- Almost any financial advisor will do it for about 1%/yr in fees(not ridiculously high, but not remotely cheap)
- Fee-only advisors generally charge a few hundred an hour with a 1st time setup of $4-10k, more than $10k is likely unreasonable.
- The robo advisors(of which their are dozens with basically identical products), generally charge 0.3%/yr, some like Vanguard include Financial Advisor services.
- Subscription based, annual fee financial planning (see below for list).
- Bogleheads.org will do it for free as long as you follow their template.
Subscription Service advisors:
- Plan Vision First year price is $189, auto renew at the end of the first year at $8 a month, which is $96/year -2021
- Facet Weatlh “Our prices range from $1,800 to $6,000, annually.” -2021
PlanVision requires some work on your part, they currently offer Fidelity’s eMoney platform. Facet Wealth is much more like the AUM model, full-service, but they charge a flat yearly fee instead.
Also see this list
Cost of advisors from a practical standpoint.
Over an investors lifetime(40 years), a 1% fee can reduce your ending balance by 30%. A 2% fee by more than half.
This article covers it or this post covers the math in such a way as you can do it yourself.