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Q: When does it make sense for me to consider hiring a financial advisor who charges an hourly rate?
Ryan: Hourly (or time-based) advice is highly flexible. It tends to make sense for someone who can self-implement recommendations, someone who is hands-on when it comes to their personal finances. For example, if you’re looking for a second opinion on your investment portfolio or just need one-off financial advice, then a time-based fee for service (i.e., “hourly”) might be just what you’re looking for.
If you tend to delegate tasks or want someone to manage your investments for you, then hourly advice might not be a good fit for you. One of the cool things about hourly planning is that there really aren’t any restrictions on the type of clients that an advisor can work with.
View Ryan’s Profile on Wealthtender
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