I frequently get questions how to calculate consulting fees so i decided to write a step-by-step guide to describe how to do it. Because there exists such asymmetry in the information between financial product providers and individual investors, in many instances individual investors were sold high-cost investments. Even today, investment products continue to be sold which possess enormously high rent extraction, driven in large part by huge advertising and promotional budgets of Wall Street’s firms. Increasingly, and with the assistance (in large part of) independent journalists and others in the media, individual investors are looking for those few financial advisors who possess very few conflicts of interest. Programs in financial planning are becoming more available in colleges and universities.
This form of remediation is positive, as the costs of remediation are far less than the costs saved from disintermediation (despite unsupported statements by Wall Street firms to the contrary). For example, many financial advisors promote themselves to consumers as fee-based advisors” while never mentioning that they also sell products for commissions. The work of personal financial advisors tends to be less stressful than other financial occupations.
Accenture is one of the world’s largest financial consulting firms, with unparalleled experience, and comprehensive capabilities across all industries and business functions. The Financial Times FT 500, an annual snapshot of the world’s largest companies, has included Accenture for seven years (2005-2011). Ernst & Young is one of the world’s largest financial consulting firms and a global leader in assurance, tax, transaction and advisory services. The Monroe Vos Consulting Group is one of the largest financial consulting firms in the Southwest. The median annual wage for personal financial advisors was $67,520 in May 2012.
It has been named the overall winner of the Operational Risk & Regulation’s annual consultancy rankings for the second consecutive year, and placed first in six of twelve risk and regulatory consultant service categories. Is one of the biggest financial consulting firms serving the Los Angeles, Bakersfield, and Oxnard California regions. Personal financial advisors assess the financial needs of individuals and help them with decisions on investments (such as stocks and bonds), tax laws, and insurance. Many personal financial advisors spend a lot of time marketing their services, and they meet potential clients by giving seminars or through business and social networking.
After financial advisors have invested funds for a client, they and the client receive regular investment reports. They monitor the client’s investments and usually meet with each client at least once a year to update the client on potential investments and to adjust the financial plan based on the client’s circumstances or because investment options may have changed.