How Much Does Financial Advice Cost? Understanding Our Fees

One of the most common questions people have when considering working with a financial advisor is simple: How much does it cost?

At Financial Concepts, Inc., we believe understanding how your financial advisor is compensated is an important part of building a trusting relationship.

Not everyone needs the same level of financial advice. Some people have a specific question, while others are preparing for retirement, developing a comprehensive financial plan, or looking for ongoing investment management.

That's why we offer several ways to work together, depending on your financial situation and the services you're looking for.

1. Hourly Financial Advice — $175 Per Hour

Sometimes you don't need a comprehensive financial plan. You simply want professional guidance on a particular financial decision.

Our hourly financial advice is available at $175 per hour, without requiring you to transfer your investments to our firm.

Common topics include:

• Social Security claiming strategies

• Roth conversions and retirement tax planning

• Medicare premiums and IRMAA planning

• Retirement income and withdrawal strategies

• Reviewing existing investments or annuities

• Evaluating pension and retirement benefit options

• Getting a second opinion on financial recommendations

Hourly advice may be appropriate for individuals who prefer managing their own finances but occasionally want professional guidance.

2. Project-Based Financial Planning — Starting at $750

Some financial situations require a more comprehensive approach.

Our project-based financial planning services start at $750, with the final cost depending on the complexity of your situation and the scope of work involved.

These engagements may include:

• Retirement planning: Evaluating retirement timing, income needs, and withdrawal strategies.

• Tax planning: Reviewing Roth conversions, capital gains, Medicare premiums, and tax-efficient withdrawal opportunities.

• Investment analysis: Reviewing your current investments, expenses, asset allocation, and risk.

• Estate planning coordination: Reviewing beneficiary designations and coordinating financial decisions with your estate planning goals.

• Comprehensive financial planning: Bringing together retirement, investments, taxes, insurance, and estate considerations into one coordinated strategy.

Before beginning, we'll discuss your goals, outline the services to be provided, and agree on the cost.

You don't have to transfer your investments to us to receive a comprehensive financial plan.

For clients who also establish an ongoing investment advisory relationship, financial planning fees may be reduced or waived depending on the amount of assets managed and the complexity of the engagement.

3. Ongoing Investment Management — Starting at Approximately 1.23% Annually

For clients who prefer an ongoing relationship, we offer professional investment management alongside financial planning services.

Our investment advisory fees typically start at approximately 1.23% annually of assets under management, plus the underlying expenses of the investments held in your portfolio.

As the amount of assets managed increases, the advisory fee percentage generally decreases.

For example, a $100,000 portfolio with a 1.23% annual advisory fee would have an advisory cost of approximately $1,230 per year, plus underlying investment expenses.

Our ongoing services may include:

• Investment portfolio management and rebalancing

• Retirement income and withdrawal planning

• Social Security and pension analysis

• Roth conversion and tax planning strategies

• Medicare premium and IRMAA planning

• Insurance and estate planning reviews

• Ongoing meetings and financial guidance as circumstances change

Depending on the complexity and scope of the financial plan, a separate financial planning fee may apply in addition to the investment advisory fee. Planning fees start at $750 and may be reduced or waived depending on the amount of assets managed and the services provided.

We discuss all applicable fees before beginning an engagement so clients understand the services being provided and their associated costs.

Our goal is to coordinate investment decisions with your broader financial plan, including retirement income, tax considerations, and estate planning, helping you make informed decisions with greater financial confidence.

4. Life Insurance & Annuities — Commission-Based Compensation

In certain situations, life insurance or annuity products may be appropriate components of a financial plan.

When clients purchase these products through us, we may receive a commission from the insurance company.

These commissions are generally incorporated into the product's pricing rather than billed separately to the client. However, insurance and annuity products may have internal expenses, surrender charges, and other costs.

We believe it's important to explain this compensation and the potential conflicts of interest it creates.

Before recommending an insurance or annuity product, we consider its costs, benefits, limitations, and how it fits within the client's overall financial plan.

Which Service Is Right for You?

There isn't a single approach to financial advice that works for everyone.

Service	Typical Fee
Hourly Financial Advice	$175 per hour
Project-Based Financial Planning	Starting at $750
Ongoing Investment Management	Typically starting at 1.23% annually, plus investment expenses
Life Insurance & Annuities	Commission-based compensation

Financial planning fees may also apply to ongoing investment advisory relationships. Actual fees depend on the services provided and the applicable agreements.

Some clients prefer to manage their own investments and occasionally seek guidance. Others want a financial plan they can implement themselves. Still others value having an advisor manage their investments and help navigate financial decisions over time.

We offer different arrangements because we recognize that everyone's needs are different.

Our Commitment to Transparency

As a CERTIFIED FINANCIAL PLANNER® professional, I believe clients should understand both the advice they receive and how their advisor is compensated.

Our firm offers hourly and project-based financial planning, ongoing investment advisory services, and certain commission-based insurance products.

Regardless of how we work together, we believe in clearly explaining the services provided, the associated costs, and potential conflicts of interest.

You should understand what you're paying your financial advisor and what services you're receiving in return.

Let's Start With a Conversation

Whether you're approaching retirement, looking for a second opinion, or evaluating your investments, we'd welcome the opportunity to discuss your situation.

You don't need to transfer your investments or commit to an ongoing advisory relationship to receive professional financial advice.

At Financial Concepts, Inc., our goal is to help you make informed financial decisions with confidence.

Contact Financial Concepts, Inc. to learn more about our services and determine which approach may be appropriate for your needs.

This article is for informational purposes only. Fees and services are subject to applicable agreements and disclosures. Investment advisory fees are separate from underlying investment expenses. Financial planning fees may be charged in addition to investment advisory fees. Insurance and annuity products may involve commissions, internal expenses, and surrender charges. Additional information regarding services, compensation, and potential conflicts of interest is available in our applicable disclosure documents.