Will a financial advisor provide an unbiased assessment of a financial plan I already have in place?

I already have an Investment Advisor connected with an insurance company who handles our investments. I would like to have an independent financial advisor who can provide an unbiased assessment of our financial plan and investments. Is it possible that an advisor would provide this service and what fee might be expected?

Financial Planning, Choosing an Advisor
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December 2016
68% of people found this answer helpful

Yes, many advisors will offer a valuable "second opinion" as you've described it above. I personally call this Financial Advocate services and charge on an hourly basis.

Financial planners vary widely in terms of their rates. Most fall within $150-$300 per hour.

Just as an aside, you may want to consider shopping around for a new advisor while you're on this mission. Insurance companies are notorious for the number and volume of fees they pass along to their clients. Hopefully, your advisor doesn't fall into this camp, but doesn't hurt to ask how much they charged you in fees, commissions, and front or back end loads.

You are making a wise choice to seek out a second opinion on your finances. Good luck working through the process!

With Kind Regards,


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