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The benefits of advice were particularly docHub for those with less disposable income, and also for people who took advice more than once. The combined benefits of financial advice over the 10-year period work out as approximately 2,400% greater than the initial cost of the advice.
Key points A financial advisor can help you identify and achieve your financial goals. Consider hiring an advisor if your finances are complex or you experience a major life event.
Generally, having between $50,000 and $500,000 of liquid assets to invest can be a good point to start looking at hiring a financial advisor. Some advisors have minimum asset thresholds. This could be a relatively low figure, like $25,000, but it could $500,000, $1 million or even more.
A financial advisor is worth paying for if they provide help you need, whether because you dont have the time or financial acumen or you simply dont want to deal with your finances. An advisor may be especially valuable if you have complicated finances that would benefit from professional help.
If you have less than $50,000 of liquid assets then you may also want to consider going at it on your own as the fees might not be worth it. With that said, financial advisors can bring a wealth of information and experience to the table that can make a huge difference in your potential return.

People also ask

In a 2019 whitepaper, Vanguard assessed an Advisors Alpha, or the value that a financial advisor adds to a clients portfolio, to be about a 3% net return per year, depending on a clients circumstances and investments.
Many may ask Is 1.5% too much? and the answer is that it depends. While 1.5% is on the higher end for financial advisor services, if thats what it takes to get the returns you want then its not overpaying, so to speak. Staying around 1% for your fee may be standard but it certainly isnt the high end.

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