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Questions about Financial Planner fees
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MsSissy
xoxoxo
Member since 3/07 39159 total posts
Name:
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Questions about Financial Planner fees
If you have a F.P.
What are their fees. Do they charge per transaction or a flat percentage? If a %. Would you mind sharing what that is?
And is on the year end balance or on another figure?
TIA
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Posted 11/16/17 2:32 PM  |
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Long Island Weddings
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19461 total posts
Name:
L
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Re: Questions about Financial Planner fees
I don't have one, but if you are thinking of getting one they should have something called a fiduciary duty to you, otherwise they are just a salesperson with a fancy title.
As for fees, it is usually a percentage of the amount invested. Under current but not the Republican tax plan you might do better with index funds. If, however, the Republican tax plan passes there will be issues with how you are taxed on the sale of stocks. That is, today you can sell any stock in any order of purchase. If taxes are changed, then you will have to sell it differently.
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| Posted 11/16/17 3:26 PM |
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MsSissy
xoxoxo
Member since 3/07 39159 total posts
Name:
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Re: Questions about Financial Planner fees
Thank you
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| Posted 11/16/17 7:28 PM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
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Re: Questions about Financial Planner fees
Posted by MsSissy
If you have a F.P.
What are their fees. Do they charge per transaction or a flat percentage? If a %. Would you mind sharing what that is?
And is on the year end balance or on another figure?
TIA
To answer your question..it really depends. A managed account usually has a flat fee attached to it. The fee will vary and will sometimes depend on the amount of assets under management. The % varies but typically it is between 1% and 2%. The fee is charged based on your schedule...typically on a monthly or quarterly basis.
If you are paying per transaction, you are paying a commission or a load. The commission would either be flat rate or standard schedule and the loads are determined by the mutual fund companies and depend on share class.
If you have a financial plan...that would be a separate product and may be included but typically is not.
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| Posted 11/17/17 12:05 PM |
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