Today’s financial planning landscape offers more flexibility and choices than ever before. Clients not only have various options for investment management and financial advice, but they can also decide how they wish to pay for these services. Instead of entering into a long-term commitment or transferring assets to a new firm, you can hire an hourly financial planner to review your current situation and provide recommendations on a per-hour basis.
Hourly financial planners can help assess your progress toward key financial goals, such as preparing for retirement or ensuring that your portfolio is well-diversified. This approach is particularly useful if you have a specific set of questions and need targeted advice. You present your concerns, receive expert recommendations, and then move on without ongoing obligations.
Here are some key advantages of the hourly-based fee-only model:
Cost Transparency : In a fee-only practice, hourly rates are straightforward and based solely on the time spent working on your specific financial situation. There are no hidden fees, commissions, or conflicts of interest. This ensures clarity in how much you’re paying and what you're paying for, as costs are directly tied to the time required to gather information, formulate strategies, and deliver recommendations. 2
Flexibility with a Pay-As-You-Go Model : The hourly structure allows you to seek financial advice only when needed. Whether it’s a single consultation or an annual check-up, this model will enable you to access services based on your needs, offering complete control over your financial planning journey.
Tailored Advice for a Range of Needs : Hourly-based planning isn’t limited to those growing their net worth. It’s also perfect for individuals who prefer to manage their own investments but occasionally need expert input. This accessibility ensures that your specific needs can be met no matter your financial situation.
Personal Empowerment : You can choose the exact services you need, whether it's budgeting assistance, investment advice, or retirement planning. This approach allows you to focus on your current needs, allowing you to manage your financial strategy on your own terms.
No Need to Move Assets : Hourly financial planners focus solely on giving advice without taking custody of your assets or making decisions on your behalf. This means you don’t have to deal with transferring assets between custodians. As a result, advice can be offered on accounts held anywhere, making the process more convenient and accessible to a broader audience.
Working with an hourly-based financial planner can provide valuable benefits tailored to your unique financial needs. Before making a decision, evaluating your financial situation and goals is essential. If you're interested in learning more about working with a financial planner on an hourly basis, feel free to schedule a free, no-obligation discovery call. Click here to book a call or send an email to get more information.
Comments