Is Investment Advice Worth The Cost?

Investing your money wisely is of the utmost importance. Some people are hesitant to pay for investment advice, instead opting to save every penny for the actual investments. A 2016 RIA Industry Study revealed that advisory fees generally range between 0.25% per year and 2.00% per year. It’s important to understand that your investment advisor provides you with on-going advice that adapts to your changing situation to best suit you.

“Investors who are currently working with a financial professional are more prepared for retirement and feel their relationship with an advisor has helped make this possible,” Timothy Clifford of ​Investopedia claims. According to the Insured Retirement Institute, just 55% of baby boomers currently have retirement savings. Another way to look at this is that 45% of Americans age 53 – 71 have zero retirement savings. Of those baby boomers with retirement savings, over 90% work with a financial professional. For those working with a financial professional, eight in 10 feel that their investments are in better order as a result.

This information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Working with a financial professional does not guarantee a favorable result.