Find a fee-only fiduciary.
Not a "fee-based" advisor with hidden commissions.

Section 1 · The three advisor types

Fee-only fiduciary

• Charges a flat fee, hourly rate, or percentage of assets under management (AUM).
• No commissions. Zero financial incentive to recommend any specific product.
• Legally required to act in your best interest verify×DON'T TRUST, VERIFYClaim: Fee-only fiduciaries are subject to the fiduciary standard under the Investment Advisers Act of 1940 and applicable state regulations.Verify at: SEC RIA registration page ↗Registered Investment Advisers (RIAs) operate under fiduciary duty. Broker-dealers operate under the lesser "suitability" or "Reg BI" standard..
• What to look for: "fee-only" AND "fiduciary." Both words matter.

Fee-based

• Confusingly similar name.
• Charges fees AND earns commissions.
• Has some fiduciary obligation but not in all situations.
• Incentive conflicts exist.
• Not the same as fee-only.

Commission-based

• Earns money when you buy a product they recommend.
• Variable annuities, whole life insurance, and loaded mutual funds all pay significant commissions.
• Not required to recommend what is best for you, only what is "suitable."
• The "suitable" standard allows recommending a worse product for you if it is better for them.

Section 2 · What advisors actually cost

AUM (Assets Under Management)

• Typically 0.5 to 1.5% of your portfolio annually.
• On $500,000: $2,500 to $7,500 per year.
• On $1 million: $5,000 to $15,000 per year.
• The fee compounds against your balance like an expense ratio. It never stops.
• Worth it if: they provide ongoing tax optimization, estate planning, behavioral coaching, and complex planning that exceeds their fee.
• Not worth it if: they are putting you in index funds you could buy yourself for free.

Hourly

• $200 to $400+ per hour for complex planning questions.
• Best for: specific questions (Roth conversion strategy, equity-comp planning, estate questions).
• Not for: ongoing portfolio management where AUM makes more sense.

Flat fee

• Some advisors charge $1,500 to $5,000 for a comprehensive financial plan.
• Delivered once, reviewed annually.
• Best for: getting a blueprint you execute yourself.

Section 3 · Where to find one

NAPFA (National Association of Personal Financial Advisors)

The gold standard directory for fee-only fiduciaries. Every NAPFA member is fee-only and fiduciary by membership requirement verify×DON'T TRUST, VERIFYClaim: NAPFA membership requires fee-only compensation and fiduciary commitment.Verify at: NAPFA ↗NAPFA's bylaws require members to commit to a written fiduciary oath and fee-only compensation.. Search at napfa.org/find-an-advisor.

XY Planning Network

Fee-only advisors who specialize in working with younger clients (Gen X and Gen Y). Often offer subscription-based planning ($100-$300/month) rather than AUM. Search at xyplanningnetwork.com.

Garrett Planning Network

Hourly fee-only advisors. Good for specific questions without an ongoing relationship. Search at garrettplanningnetwork.com.

Section 4 · When you need an advisor vs when you do not

DIY is sufficient for

• Simple situation: W-2 income, standard accounts, no equity comp, no business, no estate over $1 million.
• The three-fund portfolio at a low-cost brokerage requires no advisor.
• This entire site exists to enable DIY.

An advisor adds value for

• Complex equity compensation (ISOs, NSOs, RSUs with significant tax decisions).
• Business ownership with retirement-plan decisions.
• Estate planning over $5 million.
• Divorce or inheritance.
• Approaching retirement with multiple account types, Social Security timing, and healthcare decisions all interacting.
• Behavioral coaching: if you know yourself and would sell during a crash, a good advisor pays for themselves in the first correction.