https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Sat, 02 May 2026 03:39:53 +0000 https://boards.hellobee.com/topic/financial-advising-ongoing-basis#post-2917445 Sun, 19 Jul 2020 20:21:01 +0000 Becky 2917445@https://boards.hellobee.com/ <p>My husband is a financial advisor. He does charge $1,500 to do pretty much the same thing you got. His recommendation was the more complex/sophisticated your investment and planning needs, the more worthwhile it is to receive ongoing advice. He doesn’t charge a flat fee, but rather a varying percentage of a client’s investments (so if it’s several million, he would charge .6-.7%, for a few hundred thousand he might do 1.4%). They do commissionable services only when it will cost less for the client (so for example buying a stock). He did point out that most advisors who charge a fee are CFPs (which you want). </p> https://boards.hellobee.com/topic/financial-advising-ongoing-basis#post-2917444 Sun, 19 Jul 2020 17:01:28 +0000 Corduroy 2917444@https://boards.hellobee.com/ <p>@Purpledaisy: The $1500 was for a full review of our assets and debts and a plan for where to put our money going forward. It addressed our budget, student loans, cars, the mortgage, insurance, 401(k) and other retirement accounts, college savings, and investment accounts. My understanding is that it's quite typical of a fee based feduciary. Our advisor is not getting any commissions on investments. </p> https://boards.hellobee.com/topic/financial-advising-ongoing-basis#post-2917443 Sun, 19 Jul 2020 15:38:49 +0000 Purpledaisy 2917443@https://boards.hellobee.com/ <p>@Corduroy: I work in financial planning and I would definitely not go with this option. What did you pay $1500 for?? Was that just to talk?? </p> <p>We never charge to talk, get people set up with a plan, or to give ongoing advice. Advisor do get paid commissions on money invested or by selling life insurance/annuities/etc. because of course they have to make money somewhere. I really am not a fan of advisors charging clients a set fee like that. </p> https://boards.hellobee.com/topic/financial-advising-ongoing-basis#post-2917440 Sun, 19 Jul 2020 14:10:16 +0000 bhbee 2917440@https://boards.hellobee.com/ <p>$100 a month is a lot! I think it’s one thing to put a plan in place but unless you’re talking really serious investments it should probably manage itself ... I guess I don’t know what “react to changes” means, but seems like it should definitely be longer term than a month! I really think the bottom line for most people is get rid of debt, live below your means and invest early and often (there are lists out there of the best way to do this in terms of order to prioritize, whether 401k, HSA, 529, etc). </p> <p>So clearly I have an opinion but I’d start with the plan and then read some good instagram accounts etc on personal finance and see if you need help in the future. Like @personalfinanceclub </p> https://boards.hellobee.com/topic/financial-advising-ongoing-basis#post-2917437 Sun, 19 Jul 2020 12:38:01 +0000 Corduroy 2917437@https://boards.hellobee.com/ <p>It took a global pandemic/shelter in place to.... get DH and I to put a financial plan in place. I hired a financial planner to come up with the plan. DH and I are implementing the plan. The plan is straightforward and pretty much aligned with what DH and I thought we should be doing but never did on our own. The plan cost us $1500 (HCOL area).</p> <p>Our advisor is pitching us a $100/month ongoing advising service that would keep us on track and help us react to changes. We liked our advisor but I don't see how we'd get $100 of value out of it. He's not aggressive about the upsell and he told us he was going to offer this service at the outset. We said no for now but can change our minds when he checks in with us at 3 month or 6 months. After that if we want additional advice without signing on for the monthly service we would start over with the $1500 (or use someone else).</p> <p>If you pay for ongoing financial advising what makes it worthwhile for you? If you didn't pay for ongoing advice have you regretted it? </p>