Over a third of Americans consult a financial advisor, according to a Bankrate study, but could they be spending too much for professional guidance...
Over a third of Americans consult a financial advisor , according to a Bankrate study, but could they be spending too much for professional guidance ? FinanceHQ Co-Founder and CEO Alex Choi sits down in-studio with"A lot of advisors go through flat fees, and so you're looking at somewhere between $3,000 to $7,000 on an annual basis.
It's a great question and I think you really have to be mindful of the fact that there might be certain benchmarks you want to adhere to.Uh Basically, you're looking for somewhere between one and 1.5% uh flat fee, billing, a lot of advisers go through flat fees. Uh But a good adviser will go well above and beyond that, they're going to help you with tax management strategies, um risk portfolio analysis.Um And I think one of the most important things that a financial advisor does is set behavioral guard rails um prevent you from falling into the trap of making emotional decisions based off of market fluctuations.
And I think the third, almost most important question and I highly encourage people to not be shy about this.You know, it's, it's a question that most financial advisers are happy to kind of provide a response to a lot of people think that they need to be super rich, to have a financial advisor.Yeah.
So, you know, some people out there might, might think to themselves, hey, hey, I've got, you know, trigger warnings set up for, you know, if something happens in the market, I get an alert. How are we seeing financial advisor in the role there being changed by the technology that might be being, being used, whether that be A I or something else?Um I think financial advisors, uh there's like there's been common concern that their jobs will be uh kind of reduced in scope because of A I and, and technology.
Brad Smith Alex Choi Professional Guidance Bankrate Co-Founder
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kamala Harris on '60 Minutes': Americans Are Ready to 'Turn the Page'Vice President Kamala Harris appeared on CBS's '60 Minutes' as part of a high-profile media push with only weeks left until the presidential election.
Read more »
1 month left until Americans cast their vote in presidential electionU.S. Republican candidate Donald Trump returned to Butler, Pennsylvania today, where a rally was held at the same site where he was nearly assassinated back in July. As Bianca Facchinei reports, with one month left until Americans cast their vote the race has become tighter than ever.
Read more »
81% of mid-income Americans' chief concern is inflation: Santander81% of middle-income Americans see inflation as a major financial concern, according to a new Santander survey. Santander US CEO Tim Wennes joins Wealth! to ...
Read more »
How guaranteed retirement income helps Americans' mental healthListen and subscribe to Decoding Retirement on Apple Podcasts, Spotify, or wherever you find your favorite podcasts. Most Americans are stressed about the...
Read more »
Rising inflation and unemployment push Americans toward high-cost loans, says Rodney WilliamsThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Americans Celebrate SpaceX Starship’s Successful Mechazilla Booster RecoveryMeanwhile, CEO Elon Musk intends to sue the California Coastal Commission for rejecting more SpaceX rocket launches by citing Musk’s X posts.
Read more »