Looking for financial advisor in New York City
April 5, 2014 4:54 PM Subscribe
I'm looking for somebody to help me plan retirement,etc. I had somebody whom I paid by the hour but I called her to do an update and she is retired now. She referred me to somebody who says he charges 0.85% of your money each year as his fee.
So if he were to handle all my money and if I had $100,000 at the end of the year he would take $850.
I"ve never heard of this kind of arrangement before. Does it sound kosher?
Any recommendations for financial advisors/planners who charge by the hour? thanks.
posted by DMelanogaster to Work & Money (7 answers total) 3 users marked this as a favorite