Financial Advisor Fees: What Each Pricing Model Costs

Money conversations with an advisor can feel like a black box. You want help, but you’re not always sure what you’re paying for, or whether the number feels fair. That uncertainty keeps a lot of people from ever picking up the phone.

Here’s the short version. Advisors get paid one of four main ways: a flat fee, an hourly rate, a cut of what they manage, or a commission on what they sell you. Pricing differs by model, sometimes by a lot.

Once you know which type you’re dealing with, the rest gets easier to follow. We’ll also compare those models with Boldin’s pricing next.

How Much Does a Financial Advisor Cost?

Those four models break down like this, based on Kitces Research’s 2024 survey of 621 practicing financial advisors, the most current benchmark available.

Fee Type	Typical Range	Best For	Watch For
Flat fee	2,750–3,500 for a full plan (median $3,000)	A one-time plan or project	No ongoing support once the plan’s delivered
Hourly	250–350 an hour (median $300)	A single question or a quick review	Costs climb fast with complex situations
AUM (assets under management)	About 1% on the first $1 million, lower at higher balances	Ongoing portfolio management	The fee grows as your balance does
Retainer/subscription	2,500–9,200 a year (median $4,500)¹	Steady, year-round access to an advisor	Newer model, terms differ by firm
Commission	3%–6% of the product’s value	Simple insurance or annuity purchases	Check whether the advisor’s incentives match yours

Every model has trade-offs. A commission might mean the advice costs you nothing upfront, but the advisor’s paycheck depends on what you buy, regardless of whether it fits your plan.

None of these options is wrong on its own. The point is knowing which one applies to you, so nothing catches you off guard once the bill arrives.

How Much Does Boldin Cost?

Those numbers are useful context if you’re deciding between hiring an advisor and using a planning tool instead. Boldin’s core planner is free and gives you a real starting point: your numbers, some scenario testing, and a first look at where you stand.

PlannerPlus, the paid tier, runs $144 a year (about $12 a month) after a 14-day free trial. It unlocks tax projections, Monte Carlo analysis, Roth conversion modeling, and unlimited AI-guided planning.

If you want a live person in the mix, Boldin Advisors connects you with a CFP® professional for a flat fee of $3,200, covering a full retirement plan checkup with a fee-only fiduciary. That’s a fraction of what a traditional AUM advisor charges over just a single year.

See the full breakdown on the Boldin pricing page, or start a free trial to see what your own numbers look like.

Commission-Based Advisors Get Paid When They Sell You Something

Commission-based advisors earn money from the products they sell. Life insurance, annuities, and mutual funds all carry a built-in commission, typically 3% to 6% of the transaction.

Most advisors working this way act in good faith. Their paycheck still depends partly on what you buy, though, which can nudge recommendations even when no one intends it to. Before acting on a recommendation, ask how the advisor is paid and whether a sale would affect that compensation.

Its main advantage is accessibility, since you don’t pay the advisor at all.

Fee-Only Financial Advisors Charge a Flat Rate or an Hourly Fee

Fee-only advisors don’t earn commissions on anything they recommend. You pay them either a flat rate for a defined project or an hourly rate for their time.

Flat Fees

A flat fee covers a specific deliverable, often a full retirement plan. The median cost lands around $3,000, though simpler plans run closer to $2,750 and more involved ones can top $3,500.

Hourly Rates

Hourly advisors bill for the time they spend on your situation. The median rate sits at $300 an hour, up from $250 a couple of years ago. CERTIFIED FINANCIAL PLANNERS® with more experience often charge toward the higher end of that range.

Many people lean toward fee-only advisors because the model removes a layer of guesswork. You agree on the scope and cost before work begins.

AUM Advisors Charge a Percentage of the Money They Manage

Assets under management, or AUM, is the most common fee model in the industry. The advisor charges a percentage of your investment balance each year, roughly 1% on the first $1 million, with the rate stepping down as your balance grows.

AUM ties the advisor’s revenue to your account balance, so growing your money helps them too. But the fee grows right along with it: a 1% fee on $500,000 comes to $5,000 a year, and that number rises and falls with your balance alone, independent of how much work the advisor puts in.

Fee-Based Advisors Combine Fees with Commissions

A fee-based advisor charges you a flat rate, an hourly fee, or an AUM percentage, and also earns a commission on certain products they sell you. That’s the key difference from fee-only, where no commission changes hands at all.

Confirm which model your advisor uses before you sign anything. The distinction affects whose interests come first.

Retainer Fees Cover a Service for a Set Price Up Front

A retainer is a fixed annual amount that gives you ongoing advice throughout the year, regardless of how your portfolio performs. The median retainer runs about $4,500 a year, up from $3,000 a couple of years back, with a typical range of $2,500 to $9,200.

This model works well if you want ongoing advice without your fee swinging with the market. It’s newer than AUM or flat-fee pricing, so terms aren’t standardized yet. Ask exactly what’s included before you commit.

Which Financial Advisor Fee Structure Fits Your Situation?

There’s no single right answer here, and that’s okay. The best fit depends on what kind of help you need this year as much as any decade down the road.

If you want a one-time plan and nothing more, a flat fee often costs less than paying an advisor a percentage of your assets year after year. For someone to manage your investments on an ongoing basis, AUM or a retainer fits that relationship better. If you just have a handful of questions, an hourly advisor can solve that without locking you into anything bigger.

Whatever you choose, the goal stays the same: a clearer picture of where you stand and what to do next.

Boldin Advisors and PlannerPlus Cost a Fraction of a Traditional Advisor

A traditional AUM advisor managing $500,000 at 1% costs about $5,000 annually, for as long as they manage your money. PlannerPlus costs $144 a year and puts the same kind of modeling in your own hands: tax projections, Monte Carlo runs, Roth conversion scenarios, all of it.

If you want a CFP® to weigh in on the numbers above, Boldin Advisors offers a full retirement plan checkup with a fee-only fiduciary for a flat $3,200, less than a typical year of 1% AUM fees on a similar balance.

Some people want a professional managing things indefinitely. Others want the tools to do it themselves, with an expert available when a big decision comes up. Boldin builds for both.

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Frequently Asked Questions About Financial Advisor Fees