Question: How often should a financial advisor contact you?

You should meet with your advisor at least once a year to reassess basics like budget, taxes and investment performance. This is the time to discuss whether you feel you are on the right track, and if there is something you could be doing better to increase your net worth in the coming 12 months.

Is 1% good for a financial advisor?

If youre already working with an advisor, the simplest way to determine whether a 1% fee is reasonable may be to look at what theyve helped you accomplish. For example, if theyve consistently helped you to earn a 12% return in your portfolio for five years running, then 1% may be a bargain.

What is the average number of clients a financial advisor has?

By contrast, the average advisor at a broker-dealer has 118 ongoing client relationships, plus 18 one-time clients, and an average of 31 dormant clients.

What is the average AUM for a financial advisor?

Average AUM per advisor grew to a record $92 million in 2016, up 6% from 2015. Revenues per advisor decreased for a second consecutive year, however, dropping 1% from $591,000 in 2015 to $583,000 in 2016.

What percentage of financial advisors are successful?

In fact, the success rate in the financial services industry hovers around 12%. Its hard. And if you arent good at it, or you dont have a good network of people to start off with, it only gets worse.

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