Financial advisors who charge a retainer reported an average of $6,815 a year in 2026, up 52% from $4,484 in 2023, according to a study by Envestnet | MoneyGuide and Datos Insights.
The survey covered 491 advisors in the first quarter of 2026, so the figures show what advisors say they charge, not what clients paid.
Other pricing models moved too. Flat fees averaged $2,926, up 15% from $2,554. Subscription fees averaged $595 a month, up from $215.
The only average that fell was the bundled asset-based fee, which dropped to 0.96% from 1.05%. Fifty-three percent of advisors said they raised fees in the 12 months before the survey.
Where a percentage fee and a retainer cross
Annualized, the average subscription comes to $7,140, more than the average retainer. Comparing the fixed fees with the 0.96% asset-based fee shows where each one wins.
By our math, the percentage fee equals the $6,815 average retainer at about $710,000 in assets, and equals the $2,926 average flat fee at about $305,000. Below those levels, the percentage fee costs less. Above them, it costs more.
Treat those crossover points as a starting place for a conversation. The averages come from different advisors offering different services, and the survey calls the asset-based figure a bundled fee, so ask what is bundled.
One more number belongs in the comparison: At 0.96%, every extra $100,000 you add to the account costs $960 more a year, while a retainer does not change.
What to ask before you sign
Ask for the total annual cost in writing, including fund expenses, and for what it covers: how many meetings, whether tax and Social Security planning are included, and who handles the investments.
Ask whether the advisor acts as a fiduciary, then check the firm’s licensing and disciplinary history on the SEC’s Investment Adviser Public Disclosure site.
Cheaper routes exist. Robo-advisors charged a median advisory fee of 0.25% a year in 2024, according to Morningstar. Fee-only planners who bill by the hour are another option. Hourly work can suit a one-time plan. Retainers and percentage fees pay for an ongoing relationship.
Get three fee quotes side by side
SmartAsset matches you with up to three fiduciary advisors. That gives you three fee conversations to compare. With $100K+ in investments, you can get matched for free in minutes. Get matched free.
Money Talks News may earn a referral fee if you use SmartAsset.
The questionnaire takes about 10 minutes and asks for a phone number near the end. SmartAsset matches you with advisors; it doesn’t give advice itself.
Add a Comment