Questions Regarding a Financial Adviser's Compensation

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Dec 1, 2016 5:29 pm

Hi, I have a few questions regarding the average financial adviser's compensation.

1) How do most financial advisors get compensated (e.g., flat-fee, percentage of gains, or both)?

2) If using percentage of gains method, what percentage is resonable (e.g, 10%, 15%, etc)?

3) If using a flat-fee approach, what amount (monthly or annually) is reasonable?

4) If using both methods, what flat-fee amount and gains percentage is reasonable?

My financial adviser uses both. He take a percentage of my gains (around 28% to 35%), and charges me $1000 a year. Is this reasonable?

Thanks in advance to anyone who can help. Sorry if I posted under the wrong category.

Dec 7, 2016 1:34 am

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