GITNUX MARKETDATA REPORT 2024

Statistics About The Average Financial Advisor Fee

Statistic 1

"The Average Financial Advisor Fee is around 0.95% according to a 2020 survey."

Sources Icon

Statistic 2

"92% of advisors use the Assets Under Management (AUM) model to account for their fee."

Sources Icon

Statistic 3

"On average, the initial planning fee is $2,400."

Sources Icon

Statistic 4

"Advisors may also charge a flat fee. The average flat rate is around $3,500."

Sources Icon

Statistic 5

"Only 5% of advisors charge hourly fees."

Sources Icon

Statistic 6

"The average hourly fee for a financial advisor is around $200-$300."

Sources Icon

Statistic 7

"For clients with less than $50,000 to invest, the average fee is 1.18%."

Sources Icon

Statistic 8

"38.2% of advisors are likely to reduce their fees for clients with large portfolios."

Sources Icon

Statistic 9

"Approximately 8% of financial advisors have fee structures based on a performance-based model."

Sources Icon

Statistic 10

"The Financial Planning Association found that 81% of financial advisors are paid through some form of commission."

Sources Icon

Statistic 11

"Only 6% of financial advisors are fee-only, according to the CFP Board."

Sources Icon

Statistic 12

"67% of Millennial investors prefer flat-fee advisors."

Sources Icon

Statistic 13

"26% of advisors waive fees for additional assets for existing clients."

Sources Icon

Statistic 14

"Only 3% of advisors waive fees for new clients as way to attract them."

Sources Icon

Statistic 15

"77% of investors are willing to pay a fee for financial advice."

Sources Icon

Statistic 16

"Financial advisors in the top 10% income bracket earn more than $208,000 annually."

Sources Icon

... Before You Leave, Catch This! 🔥

Your next business insight is just a subscription away. Our newsletter The Week in Data delivers the freshest statistics and trends directly to you. Stay informed, stay ahead—subscribe now.

Sign up for our newsletter and become the navigator of tomorrow's trends. Equip your strategy with unparalleled insights!