How Much Money Should You Have Before Hiring a Financial Advisor?

It's never too late to plan to work towards a comfortable retirement.

Sponsored Content It's never too late to plan to work towards a comfortable retirement. The Minimum Investment for a Financial Advisor Take Retirement Quiz Get matched with up to three vetted financial advisors who serve your area SPONSORED BY SMARTASSET How much money should you have before hiring a financial advisor? A financial advisor could help you best determine if you are on track to meet your long-term financial goals. This expert could help you determine a plan that factors your assets and taxes into your overall retirement and estate-planning goals. Investment managers, financial consultants, financial planners and even robo-advisors are all considered financial advisors. As a result, minimum thresholds vary widely. An article from Delta Wealth Advisors notes that depending on the net worth advisor you choose, you should consider hiring a financial advisor when you have between $50,000 - $1,000,000, but indicates that this much in liquid assets is the level at which an advisor's benefits potentially outweigh the costs.¹ Want to find out that asset level? Learn more here. How to Find a Financial Advisor Working with a fiduciary financial advisor can be a crucial part of any healthy retirement plan. Yet knowing how to find a vetted fiduciary is, for many, the most daunting task. SmartAsset created a no-cost tool to help match you with up to 3 vetted financial advisors serving your area. All advisors on the platform are rigorously screened through a proprietary due diligence process and legally bound to work in your best interest. It's never too late to plan to work toward a comfortable retirement.  Learn more >> Get Started Unless otherwise indicated, information is as of 5/4/2023. SmartAsset has no obligation to update any content in this article. This article may potentially include a firm or firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals or cost per engagement. SmartAsset is not a client of the aforementioned firms. SmartAsset did not receive compensation for including any of the firms in the aforementioned article. This article contains links to SmartAsset's financial advisor matching tool, which may or may not match you with the firms mentioned in this profile. The matching tool does not include all available advisors and firms and matches based on specific criteria (investable assets, geography, and willingness to work with a remote advisor). This is not an offer to buy or sell any security or interest. All investing involves risk, including loss of principal. Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns). 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Sources: "How Much Money Should You Have to Hire a Financial Advisor?", Delta Wealth Advisors (July, 2022) DISCLAIMER: Stocks and options trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the stocks and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell stocks or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in the linked report. The past performance of any trading system or methodology is not necessarily indicative of future results. All trades, patterns, charts, systems, etc., discussed in the linked report are for illustrative purposes only and not to be construed as specific advisory recommendations. 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