If you’re trying to figure out how much does a CFP cost, you’re in the right place. Certified Financial Planners (CFPs) often play a key role in helping high-net-worth individuals tackle complex wealth management strategies. But the fees you’ll pay can vary widely depending on whether you choose an annual retainer, an hourly rate, or a percentage of your assets. Below, you’ll find a clear look at common pricing models and the main factors that influence them.
Get An Overview Of CFP Fees
You might see costs anywhere from $2,000 to $7,500 for an annual retainer, while per-plan fees can be around $1,000 to $3,000. According to NerdWallet (source), the average annual retainer was $4,484 in 2024 for traditional human advisors. If you prefer an hourly arrangement, expect around $200 to $400 per hour, depending on your planner’s experience and your situation’s complexity.
Typical Ranges
Here’s a quick overview of the most common fee ranges:
| Cost Model | Typical Range |
| Hourly | $200 – $400 |
| Per-Plan Fee | $1,000 – $3,000 |
| Annual Retainer | $2,000 – $7,500 |
| AUM Fee | 0.25% – 2% per year |
Compare Common CFP Models
Hourly Rates
Paying by the hour can be useful if you only need a plan review or a few targeted questions answered. For instance, if you just want help mapping an estate plan or reviewing insurance policies, an hourly arrangement may save you money over a more comprehensive retainer.
Flat-Fee Plans
You might opt to pay a flat fee for a standalone financial plan. Costs can start at around $1,000 and reach $3,000 or more, depending on your goals. High-net-worth clients who need advanced tax planning or multi-generational estate strategies may see higher flat fees, but they also get a robust, custom plan. If you’re curious about how a plan is structured, you can take a quick look at the format of a financial plan to see what typically goes into a comprehensive approach.
Asset-Based Fees
Some CFP professionals charge based on the total amount of assets they manage (AUM). This rate typically starts at about 1% annually, though it can drop as your balance grows. Managing $250,000 at 1% a year costs $2,500, while a multimillion-dollar portfolio might command a lower percentage but a higher total dollar amount. For complex wealth, an AUM-based fee might be appealing if you want continuous hands-on management.
Commissions
A commission-based CFP earns money by taking a percentage of transactions, such as stock buys or life insurance policy sales. This structure can average 3% to 6% of the investment amount. While commissions don’t charge you upfront, they can add up if you trade frequently or make large purchases. If you’re exploring a career path or just want more clarity, check out chartered financial planner salary for an inside look at industry compensation.
Consider Key Cost Factors
Wondering about how CFP fees fluctuate, whether advanced tax coordination will increase your bill, if you’ll need a retainer, whether hourly rates adjust each year, or how commissions unfold for large transactions? Each of those questions connects to the complexity of your financial life.
- Size of Assets: A 1% fee on $5 million is far pricier than a 1% fee on $200,000.
- Type of Services: Comprehensive plans usually cost more than a single consultation.
- Advisor’s Expertise: Most CFPs are highly trained, but senior planners might charge more.
- Ongoing Support: If you need continuous portfolio monitoring, expect higher fees than a simple one-time plan.
Decide If A CFP Suits You
If you’re juggling business investments, retirement transitions, and estate considerations, a CFP can help build a cohesive wealth strategy. A fee-only advisor ensures there are no hidden commissions, but a commission-based or fee-based advisor might be the right fit if you prefer an ongoing advisory relationship without a large upfront fee.
Remember that you can also learn about general financial planning approaches to see how a professional might organize your portfolio, taxes, and future goals. If you’re launching your own advisory service, you could explore how to start a financial firm to understand the setup and fee structures that might fit your clientele.
Final Thoughts
Your bottom line really depends on picking a cost model that aligns with your comfort level and the scope of work you need done. Whether an hourly consultation is enough or an all-encompassing annual retainer feels right, your best strategy is to consider the complexity of your finances, your preference for hands-on or hands-off guidance, and your long-term goals.
If you want a deeper dive into educational paths or certifications, feel free to look into financial planner courses. Whichever route you choose, the right CFP can streamline your finances and give you greater peace of mind as you manage significant wealth.
