The Minimum Investment for a Financial Advisor

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How much money should you have before hiring a financial advisor?

A financial advisor could help you best determine if you are on track to meet your long-term financial goals. This expert could help you determine a plan that factors your assets and taxes into your overall retirement and estate-planning goals.

Investment managers, financial consultants, financial planners and even robo-advisors are all considered financial advisors. As a result, minimum thresholds vary widely.

An article from Delta Wealth Advisors notes that depending on the net worth advisor you choose, you should consider hiring a financial advisor when you have between $50,000 - $1,000,000, but indicates that this much in liquid assets is the level at which an advisor's benefits potentially outweigh the costs.¹ Want to find out that asset level? Learn more here.

How to Find a Financial Advisor

Working with a fiduciary financial advisor can be a crucial part of any healthy retirement plan. Yet knowing how to find a vetted fiduciary is, for many, the most daunting task. SmartAsset created a no-cost tool to help match you with up to 3 vetted financial advisors serving your area. All advisors on the platform are rigorously screened through a proprietary due diligence process and legally bound to work in your best interest.

It's never too late to plan to work toward a comfortable retirement. 

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Unless otherwise indicated, information is as of 5/4/2023. SmartAsset has no obligation to update any content in this article.

This article may potentially include a firm or firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals or cost per engagement. SmartAsset is not a client of the aforementioned firms. SmartAsset did not receive compensation for including any of the firms in the aforementioned article.

This article contains links to SmartAsset's financial advisor matching tool, which may or may not match you with the firms mentioned in this profile. The matching tool does not include all available advisors and firms and matches based on specific criteria (investable assets, geography, and willingness to work with a remote advisor).

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Sources:

"How Much Money Should You Have to Hire a Financial Advisor?", Delta Wealth Advisors (July, 2022)