{"id":1183,"date":"2022-06-20T06:00:53","date_gmt":"2022-06-20T13:00:53","guid":{"rendered":"https:\/\/humanitywealth.com\/?p=1183"},"modified":"2022-08-01T19:46:55","modified_gmt":"2022-08-01T19:46:55","slug":"how-much-money-is-needed-to-hire-a-financial-advisor","status":"publish","type":"post","link":"https:\/\/humanitywealth.com\/financial-planning\/how-much-money-is-needed-to-hire-a-financial-advisor\/","title":{"rendered":"How Much Money Is Needed To Hire A Financial Advisor?"},"content":{"rendered":"

Do you feel like you need someone on your side as a financial guide? As a business owner, it is my pride and joy to cater to everyone, no matter how much money they have. If you\u2019re familiar with the financial advisory industry, you know this is not commonplace.\u00a0\u00a0<\/span><\/p>\n

As an <\/span>inclusive<\/span><\/i> financial advisory firm in the Bay Area, we couldn\u2019t be more passionate about leveling the financial playing field. At Humanity Wealth, we stand for <\/span>economic equality, empowerment, and security.<\/span><\/i>\u00a0<\/span><\/p>\n

If you seek financial freedom, it may help to begin with financial literacy\u2014something most of us were not taught<\/i><\/b><\/a>.<\/i><\/b><\/h3>\n

How to find a financial advisor if you\u2019re not rich<\/b><\/h2>\n

Finding financial advisors without a minimum asset requirement might be a difficult task. Some financial planners and advisors prefer to focus on high-net-worth individuals and families with more wealth to manage because the payout may be more significant. Well, that\u2019s not the case here at Humanity.\u00a0<\/span><\/p>\n

If your accounts, savings, and assets don\u2019t total at least $100,000,<\/span> you more than likely won\u2019t qualify to work with most advisors out there<\/a><\/strong>.<\/strong> A large number of them may require $1M. So when you are doing your homework and researching, make sure you understand their assets under management (AUM) requirement.\u00a0<\/span><\/p>\n

In fact, use a list of helpful questions to help you determine this when you interview them! Remember, you are the interviewer, and they are the candidate to help <\/span>manage your wealth<\/a><\/strong>.<\/span><\/p>\n

At Humanity, you won\u2019t be just another number. You are a purposeful individual aspiring to achieve your dreams, and we respect that. We, too, have a mission to make the world a better place by offering affordable financial planning to those who need it most.<\/span><\/p>\n

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What questions to ask a potential financial advisor before hiring them.<\/b><\/h2>\n

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  1. What is the required minimum a client needs to work with you? Most have a set number.<\/span><\/li>\n
  2. What type of clients do you typically work with? You want this to be similar to you or your financial situation.<\/span><\/li>\n
  3. What services do you provide, and how much will I be charged for each? It helps to get this in writing.<\/span><\/li>\n
  4. What is your pricing structure, and how are you compensated? This can be confusing since many have a <\/span>sliding scale<\/a><\/strong>, so get this in writing.<\/span><\/li>\n
  5. How will we communicate throughout our professional relationship? Be sure that this aligns with what you need and prefer.<\/span><\/li>\n
  6. How often will I hear from you? This can set the stage for regular check-ins to ensure you are on track.<\/span><\/li>\n
  7. Are you a <\/span>fiduciary<\/a><\/strong>? This type of professional is upheld to a standard to put your best interests before their own.\u00a0<\/span><\/li>\n
  8. Will I have access to check on my portfolio performance at any time? Some advisors like us have online portals for easy access.<\/span><\/li>\n
  9. What type of investing methods or strategies do you use? These vary per advisor, so have them explain it to you.<\/span><\/li>\n<\/ol>\n

    You should always know how much you pay and what you are paying for. View our completely transparent pricing\u2014<\/span>where there\u2019s an option for everyone<\/a><\/strong>. We work with financial newbies to multimillionaires.\u00a0\u00a0<\/span><\/p>\n

    How to find a financial advisor that’s right for you<\/b><\/h2>\n

    When looking for a local financial firm, ask about their size, credentials, expertise, if they specialize in the area you need support with, and office type. Since the pandemic, firms may offer virtual support. In our case, we do!<\/span><\/p>\n

    In fact, to provide affordable financial planning in the Bay Area and *beyond, we do this through a convenient monthly subscription, just like you pay for Netflix or Hulu<\/a><\/strong>.<\/span><\/p>\n

    Opt-in for our subscription-based financial planning<\/span>\u00a0that allows you to choose from any of these topics for ongoing support:<\/span><\/p>\n