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 ratioexpense ratioThe yearly fee an investment fund charges, taken as a small slice of your balance. A 0.03% ratio costs $3 per year on every $10,000 invested. Lower is better.Full definition. It never stops.
• Worth it if: they provide ongoing tax optimization, estate planningestate planningOrganizing your assets and legal documents so they transfer correctly and efficiently when you die.Full definition, 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 conversionRoth conversionMoving money from a tax-deferred retirement account (where you'll owe tax later) into a Roth account (where everything grows and comes out tax-free). You pay regular income tax this year on the amount moved.Full definition 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 (ISOsIncentive Stock Option (ISO)A right your employer gives you to buy company shares at a fixed price later. Cheaper taxes than other stock options if you hold long enough, but can trigger an unexpected extra tax called AMT.Full definition, NSOsNon-Qualified Stock Option (NSO)An employee stock option taxed as ordinary income at exercise, unlike ISOs which receive better tax treatment.Full definition, RSUsRestricted Stock Unit (RSU)Company shares your employer promises to give you over time, usually a chunk every year for four years. The shares are taxed as regular wages on the day each chunk lands in your account.Full definition 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.