Financial advisor fees in Ontario vary considerably depending on the services provided and the advisor's compensation model. Common arrangements include hourly fees, flat fees for a financial plan, annual retainers, or fees based on assets under management (AUM).
For example, some fee-only planners may charge several thousand dollars for a comprehensive retirement plan, while ongoing investment management is often charged as a percentage of assets. Ontario Wealth Strategy Experts, for example, currently lists an annual fee of 1% of investable assets under management, with comprehensive financial planning included.
When comparing advisors, don't focus only on the percentage or dollar amount. Ask what is included. Does the fee cover retirement income planning, tax strategy, investment management, estate planning, and ongoing reviews? The right comparison is cost versus the value of coordinated advice.
You can click on our 'Fees' section to find out the different types of services provided by fee-only financial planner in Toronto at Ontario Wealth Strategy Experts and the fees associated with it.