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 sales commissions under a fee-only arrangement, but other economic conflicts can remain; verify disclosures rather than assuming zero incentives.
• Check the actual advisory/broker relationship and its disclosed duties. A compensation label alone does not establish the full legal standard or eliminate conflicts.^[1]
• 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.
• Retail securities recommendations by broker-dealers are subject to Regulation Best Interest; other products and services can have different regulatory requirements.^[1]
• Ask which entity is responsible, which standard applies and how conflicts are disclosed and addressed; do not accept a suitability slogan as a complete explanation.

Section 2 · What advisors 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 a mutual fund or ETF charges, stated as a percentage of your investment and taken out of the fund's assets instead of billed to you. A 0.03% ratio costs $3 a year per $10,000 invested; a 1% ratio costs $100. 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 eligible retirement money into a Roth account. Pre-tax amounts and earnings generally create taxable income; nondeductible basis is treated under the applicable aggregation rules. Conversions can affect tax brackets and income-based costs, and separate withdrawal rules apply.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 ↗ Source 1 in the list belowNAPFA'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.