Core Insights - The article discusses the impact of financial advisor fees on long-term investment returns, emphasizing that even a seemingly small fee can significantly erode gains over time [2][3] - It highlights the average financial advisor fee of 1.02% for $1 million in assets under management, noting that fees can vary based on the advisor's experience and the services provided [3][4] - The article also explains different fee structures, including tiered fees that decrease as asset amounts rise, and customized service offerings that may include comprehensive financial planning [5][6] Summary by Category Financial Advisor Fees - A typical annual fee for managing a $2 million portfolio is around 1%, which can cost over $375,000 in lost returns over 10 years if the portfolio earns 7% [2] - The average financial advisor fee is 1.02% for $1 million in assets under management, but this can vary widely among advisors and firms [3] Fee Structures - Advisors may implement tiered fee schedules where the percentage decreases as the asset amount increases, incentivizing firms to help clients grow their assets [5] - Some advisors customize their services and fees based on client needs, offering lower percentage fees for investment management while excluding financial planning [6] Advisor Experience and Services - Advisors with more experience or special certifications may charge higher fees, and the fee percentage can differ based on account size and service mix [4]