For example, Garrett Planning Network, which has 200+ advisors, offers an hourly rate where customers can get help with investments, budgeting, debt management, estate planning and more. The hourly rate is $215, but can be as low as $150 and as high as $500 or more depending on the services.
Others are embracing a subscription model, charging by the month or annually. For example, Meg Bartelt, a CFP and Flow Financial Planning, receives a median annual fee of $6,000 and her clients make an average of $140,000+. Annual fees allow clients to better manage cash flow and allows firms to reach clients that other advisors ignore.
Finally, some advisors, in an effort to make their services more affordable, offer group coaching and courses. While not as powerful as one-on-one counseling, it can be much less expensive for clients while allowing the advisor to still get paid well for their time.