Understanding Financial Advisor Fees: What Are You Really Paying For?

Welcome to our final installment of our 7-part series, where we’re diving into the 7 principles of Powerhouse Financial Advisors!

Let’s be real. Nobody wants to talk about fees, but everyone wants to know if they’re getting a fair deal! Today, Steve sheds light on one of the most misunderstood aspects of working with a financial advisor: what you’re actually paying for, and why it matters.

We break down three core types of fees you might encounter in a financial plan- investment-related, custodial, and advisory- and share how each plays a role in your overall financial picture. You’ll learn why low cost doesn’t always mean high value, how to evaluate the quality of advice you’re receiving, and why getting expert help early in your career can pay off in the long run.

If you’ve ever wondered, “What am I actually paying for?” then this episode is for you!

Here’s some of what we discuss in this episode:

🔍 The 3 main fees in most financial plans

📊 How to assess whether you’re getting real value

💬 What the “average” advisory fee actually looks like

🧠 Why younger investors often miss out on valuable advice

0:00 – Intro

1:39 – The 3 Main Types of Financial Advisor Fees

4:49 – Measuring Value: What Are You Really Getting?

7:17 – What’s a “Normal” Advisory Fee?

9:19 – First Step Toward a Better Financial Future

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