Reported about 1 year ago
Financial advisors charge fees based on services provided, such as hourly rates, fixed amounts, commissions, or percentages of assets under management (AUM). A 1% fee on a $1.7 million investment is common, but its value depends on the advisor's performance. Different types of fees cater to specific services, and clients should assess if the services received justify the costs. While robo-advisors offer lower fees for automated portfolio management, wealthier clients may receive discounts based on portfolio size. Ultimately, the decision on whether a 1% fee is too much depends on the services received and client satisfaction.
Source: YAHOO