Investors have long wondered whether it’s worth paying someone to mastermind a financial plan. Financial advice comes at a cost, after all, and the catch is that if you pay an advisor, your investments have to do even better to gain real value from the advice. But according to Robyn K. Thompson, a Certified Financial Planner at Castlemark Wealth Management, good financial advice doesn’t just cost, it pays. How much? About 1.82 percent per year, according to research from Morningstar Inc.
If you have an advisor – or are considering working with one – how an advisor generates value is worth considering. So let’s take a look at what financial advice can add to a portfolio, and how you can ensure that when you do pay an advisor, you’re getting your money’s worth (and more). Read more in my new article on GoldenGirlFinance.com.