1. Get the scope in writing
Ask what is included: investment management, tax guidance, retirement income planning, estate documents, and how often you meet.
Flat-fee financial advisor
Flat-Fee Financial Advisor: What It Costs and How to Choose
A flat-fee financial advisor charges a set dollar amount for planning and advice instead of a percentage of the assets they manage. A 2026 industry survey reported averages of about $2,926 for a one-time plan and $307 per hour, versus 0.96% of assets a year for asset-based fees. Scope and complexity change the price.
$900-$1,650/qtrQuarterly memberships billed in advance, with no annual commitment.
0% AUMThe fee is not calculated as a percentage of your portfolio.
Minnesota-basedLocal roots with virtual planning flexibility.
Start freeOrganize your financial picture in the Flames Financial Dashboard.
Compare fee models
Flat Fee, Project, Hourly, and AUM: How Each Way to Pay Compares
Each model suits different households. Benchmarks below come from a 2026 industry survey and describe averages, not what any one advisor charges.
| What to compare | Flat-fee membership | One-time plan | Hourly | Percentage of assets (AUM) |
|---|---|---|---|---|
| How the fee is set | A set dollar amount for a defined scope, billed on a recurring schedule | A set price for one plan | Rate multiplied by hours worked | A percentage of the assets the advisor manages |
| 2026 benchmark | About $6,815 average annual retainer, or about $595 a month for subscriptions. Flames FP publishes $3,600 to $6,600 a year | About $2,926 average | About $307 an hour average | About 0.96% a year average; 1% is a common benchmark |
| When your portfolio grows | The fee does not change automatically | The fee is fixed for the plan | Depends on hours, not balance | The dollar fee rises with the balance, though some schedules lower the rate at higher tiers |
| Investment management | Varies by firm. Included at Flames FP | Often a plan only, with you carrying it out | Often advice only | Usually included with ongoing planning |
| Ongoing support | Typically ongoing, within the stated scope | Usually ends when the plan is delivered unless you buy more | Only for the hours you purchase | Typically ongoing |
| Best fit when | You want ongoing coordinated planning with a predictable dollar cost | You want a plan once and will carry it out yourself | You have a specific question or want a second opinion | You want investment management and planning bundled, with a smaller portfolio |
| Trade-off to weigh | May cost more than a percentage fee at smaller balances | Follow-up help may cost extra | Total cost is hard to predict and may discourage frequent questions | The fee can rise with the portfolio even if the work stays the same |
Sources: Envestnet | MoneyGuide, Pros and cons of different advisory fee models (June 2026) and SEC Investor.gov, Opening an Investment Advisory Account. Fees vary by firm and by household. As of October 2026.
What it costs
What Does a Flat-Fee Financial Advisor Cost Compared With a Percentage Fee?
A percentage fee changes with your balance, and a flat fee does not. Which costs less depends on the balance and on what each includes.
Hypothetical
Arithmetic for illustration only. It is not a projection, includes no investment returns, and does not compare the services included.
| Portfolio balance | 1% annual fee | $3,600 annual membership | $6,600 annual membership |
|---|---|---|---|
| $250,000 | $2,500 | $3,600 | $6,600 |
| $500,000 | $5,000 | $3,600 | $6,600 |
| $1,000,000 | $10,000 | $3,600 | $6,600 |
| $2,000,000 | $20,000 | $3,600 | $6,600 |
At smaller balances, a percentage fee may cost less than a flat fee. At larger balances, a flat fee may cost less. Percentage schedules may also be tiered, so the real figure depends on the firm. Try your own numbers in the 1% AUM fee calculator.
How to choose
How to Choose a Flat-Fee Financial Advisor
Compare the work you receive, not only the headline price. The SEC recommends understanding your fees and your advisory contract before you open an account.
2. Ask who does the work
A dedicated advisor, a team, and a pool of specialists create different experiences. Ask who owns your plan and who attends your meetings.
3. Separate planning from filing
Tax planning and tax return preparation are different services. Confirm who prepares and signs the return and what costs extra. See how tax filing works with a financial advisor.
4. Check billing and cancellation
Compare annual agreements, quarterly billing, first-year and renewal pricing, and refund terms before you commit.
5. Ask how they are paid
Ask about any commissions, referral fees, or product-based pay. Also ask about third-party costs, such as fund expenses, that sit outside the advisory fee.
6. Verify the background
Look up the advisor on the SEC's adviser search and read the firm's Form ADV. The SEC explains what the brochure discloses.
Flames FP
How Flames FP Prices Planning
Flames FP is a Minnesota-based flat-fee financial planning firm serving clients nationwide by video, where permitted. Memberships are billed quarterly in advance, with no annual commitment and no AUM advisory fee.
Planning: $900 per quarter
$3,600 annualized. A dedicated advisor, personalized investment management, proactive tax guidance with a review of one completed return, retirement, insurance, and estate coordination, and Wealth.com estate documents from day one.
See Planning detailsPremier: $1,650 per quarter
$6,600 annualized. Everything in Planning, plus ongoing tax projections, Roth conversion and capital gain modeling, retirement income planning, and eligible tax filing through an independent tax partner. Eligibility and exclusions apply.
See Premier detailsCompare before you decide
No minimum balance is required. Consider how a flat quarterly fee compares with a percentage fee at your balance, and review other flat-fee firms side by side.
Compare flat-fee firmsWatch and learn
Start With the Fee Model
Start with three videos selected for this page, then use the controls to explore every published Flames FP video guide.
Videos 1–3 of 14
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Flat Fee vs 1% Financial Advisor
See how a percentage fee changes in dollars as a portfolio grows and what to compare beyond the headline rate. -
What Nobody Tells You About Earning $400K a Year
See why a $400K income can still leave too little investable margin and how taxes, lifestyle growth, and deliberate investing change the result. -
The 3-Account System for a $250K Income
Use cash reserves, tax-advantaged accounts, and a taxable brokerage account to turn a strong income into a repeatable wealth-building system. -
The 6 Levels of Wealth for $200K+ Households
Use six stages to separate a high income from the wealth it actually creates. -
The RSU Strategy Most $300K Tech Earners Miss
Understand taxation at vesting, check the withholding gap, and turn each RSU vest into a deliberate diversification and household-planning decision. -
The Most Underrated Retirement Account
How a taxable brokerage account can support retirement flexibility alongside tax-advantaged accounts. -
How to Decrease Your Tax Bill
Review practical tax-planning decisions that can connect income, investments, retirement, and withholding. -
Should You Invest or Spend Your HSA?
A practical framework for deciding how an HSA fits healthcare costs, taxes, and retirement planning. -
Four Common Backdoor Roth IRA Mistakes
Understand contribution, conversion, pro-rata, and reporting mistakes before they create tax problems. -
Direct Indexing vs ETFs in a Taxable Account
Compare diversification, tax management, cost, and complexity before changing an investment strategy. -
My New Favorite Account to Gift Money to Kids and Grandkids
Compare the new child investment account with 529 plans, custodial accounts, Roth IRAs for earned income, and the family's actual goals. -
Estate Planning Documents You May Need
A plain-English review of wills, powers of attorney, healthcare directives, beneficiaries, and trusts. -
How Much Life Insurance Do You Need?
Think through income replacement, debt, children, childcare, education, and family risk. -
Five Money Mistakes High Earners Make
Common coordination gaps involving taxes, cash flow, investments, insurance, and estate planning.
Common questions
Flat-Fee Financial Advisor FAQ
What is a flat-fee financial advisor?
A flat-fee financial advisor charges a set dollar amount for advice or planning instead of a percentage of the assets they manage. The fee may be a one-time project price, an hourly rate, or a recurring membership. At Flames FP, it is a fixed quarterly membership with no annual commitment and no AUM advisory fee.
How much does a flat-fee financial advisor cost?
A 2026 Envestnet | MoneyGuide survey of 491 advisors reported averages of about $2,926 for a one-time flat-fee plan, $307 per hour, and $6,815 for an annual retainer. Ongoing memberships vary by firm and scope. Flames FP publishes $900 per quarter for Planning ($3,600 a year) and $1,650 per quarter for Premier ($6,600 a year). See Flames pricing.
What fee do most financial advisors charge?
Asset-based fees are the most common model, used by 62% of advisors in the same 2026 survey, with an average of 0.96% of assets a year. Some advisors charge tiered percentages, hourly rates, one-time plan fees, or retainers. The right comparison is the annual dollar cost and what the fee includes. Read the advisor cost guide.
What is a reasonable fee for financial advice?
There is no single reasonable fee, because scope differs. Compare the annual dollar cost, whether investment management, tax guidance, and estate planning are included, and how the fee changes as your portfolio grows. A 1% fee on $1,000,000 is $10,000 a year, and a fixed fee stays the same at any balance. Use the 1% AUM fee calculator.
Are financial advisor fees negotiable?
Sometimes. An investment adviser must describe how it is paid, provide a fee schedule, and disclose in its Form ADV brochure whether its fees are negotiable, according to the SEC. Ask for the current fee schedule in writing and whether any part of the fee can change before you sign.
Is a flat-fee advisor cheaper than an AUM advisor?
Not always. A flat fee may cost less at larger balances, and a percentage fee may cost less at smaller ones. For example, 1% of $250,000 is $2,500 a year, which is below a $3,600 membership. Scope matters too, so compare what each fee includes. See the flat fee vs 1% AUM guide.
Is there a flat-fee financial advisor near me in Minnesota?
Yes. Flames FP is a Minnesota-based flat-fee financial planning firm serving Minnesota households and clients across the U.S. by video, where permitted. Memberships are billed quarterly with no AUM advisory fee. Read the Minnesota flat-fee advisor guide.
How do I check a financial advisor's background and fees?
Search the advisor on the SEC's Investor.gov adviser search to see registration and disciplinary history, then read the firm's Form ADV brochure for its fee schedule and conflicts of interest. The SEC also recommends understanding the advisory contract and how the adviser is paid before opening an account. See the SEC investor bulletin.
Sources and notes
Sources and Review
Benchmarks come from Envestnet | MoneyGuide's 2026 State of Financial Planning Fees, a Datos Insights survey of 491 advisors conducted in the first quarter of 2026, and from SEC investor education on opening an investment advisory account and Form ADV. Figures were reviewed October 30, 2026, and can change. Dollar examples are arithmetic, not projections. This page is educational and is not personalized tax, legal, or investment advice. Flames Financial Planning publishes this page and may benefit if a reader becomes a client. Read more on flat fee vs 1% AUM, what financial advisors cost, and flat-fee planning in Minnesota.
Next step
Compare the planning work with the annual cost.
Bring your current questions, account structure, and advisor fee. We can talk through what a Flames membership would include and whether the model fits.