Brent Muller | Financial Advisor - Wealth Enhancement Advisory Services, LLC (2024)

FAQs

How much does wealth enhancement advisory services charge? ›

General financial planning services will typically run you a fixed fee of up to $25,000. Fees are due on either a monthly or quarterly basis. Ongoing financial consulting services generally range up to $600 per hour.

The tough thing here is that only you can decide if a wealth manager is worth it for you. If you fall into one of the most common customer types, and you're happy with what their services may cost you, maybe you're ready to hire a wealth manager.

Wealth Enhancement Group, as a fiduciary, has a long history of providing unbiased, independent advice to plan sponsors. We collaborate with you in the areas of prudent investment practices including plan governance, investment due diligence and ongoing monitoring.

Jeff Dekko, Chief Executive Officer.

Commissions. In this type of fee arrangement, a financial advisor makes their money from commissions. Advisors earn these fees when they recommend and sell specific financial products, such as mutual funds or annuities, to a client. These are often payable in addition to the above client fees.

Most financial advisors charge based on how much money they manage for you. That fee can range from 0.25% to 1% per year. Some financial advisors charge a flat hourly or annual fee instead.

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

Many financial advisers charge based on how much money they manage on your behalf, and 1% of your total assets under management is a pretty standard fee.

Most of my research has shown people saying about 1% is normal. Answer: From a regulatory perspective, it's usually prohibited to ever charge more than 2%, so it's common to see fees range from as low as 0.25% all the way up to 2%, says certified financial planner Taylor Jessee at Impact Financial.

Wealth Enhancement Group has an employee rating of 3.6 out of 5 stars, based on 57 company reviews on Glassdoor which indicates that most employees have a good working experience there.

Is it better to invest with a fiduciary? ›

But when you're looking for financial advice, then having a fiduciary on your side can help you get the expertise and direction that's best for your situation, making it a better fit than a financial advisor who is not a fiduciary.

Wealth Enhancement Group and its Registered Investment Advisor, Wealth Enhancement Advisory Services, had $74.9 billion in client assets, including $4 billion of brokerage assets held at LPL Financial, as of December 31, 2023.

Wealth Enhancement Group has 1,300 total employees.

Founded in 1997, Wealth Enhancement Group is a nationwide network of financial advisors focused on delivering exceptional, detailed, comprehensive, and personalized financial planning.

We provide integrated tax, estate and investment planning designed to drive the best outcomes for our clients. Our Roundtable™ Team approach combined with our UniFi™ process delivers a comprehensive wealth management experience.

Financial adviser ongoing fees

You agree an ongoing fee in advance, which may be a percentage of assets under management. A typical independent financial adviser fee might be between 0.25% and 1%, but some advisers may charge a different percentage depending on your circ*mstances.

An AdvisoryHQ study averaged three years of wealth management fees across the U.S. and found that, for a client with $1 million in assets, the average AUM fee was 1.02%. A 1% AUM fee means that a client will pay an annual fee of $10,000 to work with an advisor on an investment portfolio of $1 million.

The management fee varies but usually ranges anywhere from 0.20% to 2.00%, depending on factors such as management style and size of the investment.

Hiring a financial advisor can seem like an unnecessary expense but they often save you money in the long run. If you choose to hire a financial advisor, make sure all their fees are transparent before you sign. A financial advisor is usually recommended when their fee is less than what they save for you.