Good Financial Reads: The Cost of Financial Planning

Following along with the blogs of financial advisors is a great way to access valuable, educational information about finance — and it doesn’t cost you a thing! Our financial planners love to share their knowledge and help everyone regardless of age or assets.

If you like what you read or are interested in the advisors below, be sure to click on their name to learn about them and their niches, or their firm name to visit the company website!

Catch up on some of the latest posts with this week's roundup:

Demystifying What It Really Costs to Work with a Financial Planner

by Ryan Cole, Citrine Capital

Understanding how much financial planners cost, and how they are paid, can be complicated and murky territory if you don’t have a higher degree in wealth management. But how much you pay a financial planner comes down to the type of financial planner you choose, as this is what drives the planner’s cost and ultimately determines the services you receive.

To get down to brass tacks, below are explanations of the three primary financial planner models and how each type translates to money out of (or in) your pocket.

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Price vs. Cost

One of the most frequent questions that comes up during introductory meetings with prospective clients is "How much does this cost?" Rightfully so. Financial planning services aren't cheap, and paying someone to help you develop a plan for your money probably feels a bit like buying higher octane gas in hopes of getting better gas mileage. A long-term play at best, counteractive at worst. 

But I think there are two parts to the answer. It all comes down to the difference in price and cost. 

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For more on the value of financial planners (and why they're worth the cost), check out Good Financial Reads: Hiring a Financial Advisor and Good Financial Reads: Do I Need a Financial Planner?