How to Find a Financial Advisor if You’re Not Rich – msnNOW
Financial advice isn’t just for the wealthy.
In fact, the right guidance early in your financial life can have the biggest impact on your long-term success.
“Most wealthy people begin their financial journey as people with lower wealth,” says Peter Casciotta, owner of Asset Management & Advisory Services of Lee County in Florida.
Many financial advisors, however, aren’t interested in working with the middle class.
In recent years, firms have stopped paying commissions to brokers for accounts that are considered small, including accounts ranging from $100,000 to $500,000 in assets. Firms that do take less than those minimums sometimes charge as much as 2% in annual fees, though 1% is more typical.
“Typically, when you are looking for someone to help with planning, your asset level should be around $250,000, as most professional programs begin at that amount,” says Brandon Reese, senior wealth advisor at TBS Retirement Planning. “There are, however, lots of new programs to help…
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source: https://news.oneseocompany.com/2022/12/15/how-to-find-a-financial-advisor-if-youre-not-rich-msnnow_2022121537672.html
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