Cryptocurrency Q&A
How much do 401k advisors charge?
How much do 401k advisors charge?
ShintoBlessing
Fri Sep 06 2024
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7 answers
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Are you curious about the fees that 401k advisors typically charge? Well, the answer can vary quite a bit depending on a number of factors. Some advisors may charge a flat fee for their services, while others may take a percentage of your account balance. Additionally, some employers may offer in-house 401k advice as part of their employee benefits package, which can be a cost-effective option. It's important to ask your advisor or employer about their specific fees and charges to ensure that you're getting the best value for your money.
7 answers
CryptoAlly
Sun Sep 08 2024
The 401(k) Financial Advisor Fee Study provides valuable insights into the average and median fees charged by financial advisors for managing retirement assets within the 401(k) plan.
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Silvia
Sun Sep 08 2024
For asset ranges between $0 and $500,000, the average fee is 0.69%, while the median fee is slightly lower at 0.65%. This indicates that a significant portion of clients in this asset range are paying fees close to the median.
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BlockchainLegend
Sun Sep 08 2024
As the asset range increases to $500,000 to $1 million, the average fee decreases slightly to 0.64%, and the median fee drops further to 0.60%. This trend suggests that clients with larger portfolios may be able to negotiate lower fees.
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CryptoWizard
Sun Sep 08 2024
The study also considers the use of flat fees, which can vary depending on the advisor and the services provided. However, the specifics of flat fees are not detailed in the given excerpt.
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Elena
Sat Sep 07 2024
The table in the study, which includes 658 more rows, likely provides a comprehensive overview of the fees charged by various financial advisors across different asset ranges and service offerings.
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