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Reply to "What do financial planners mean when they talk about clients with high net worth?"
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[quote=Anonymous]Planners should work for you no matter what your assets. If someone only takes on high net worth clients, it's because they want to manage your assets, or have you invest your money with them. They usually charge 1 percent of assets under management - so $10,000 a year on $1 million. It's not worth it for them to take on clients for less. If you are really looking for a PLAN and not for someone to manage your assets, you can find someone who will charge a flat fee. I've heard fees range from $1200-$5000 for a comprehensive plan. An advisor/manager will often provide a plan for "free" - it's included in their one percent fee. [/quote]
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