Why do "fee-only" financial advisors still require AUM fees?
Financial advisors often advertise as fee-only but actually require a percentage of assets under management, making it difficult to find professionals who offer one-time hourly advice. This forces people who only want help allocating their numbers to navigate misleading directory labels instead of getting straightforward hourly guidance.
What people tried
Every workaround mentioned in the threads below. We haven’t tested any of them — and nobody here is claiming they worked.
- 1Plugging all financial data into software like Boldin and requesting a review through their contracted advisors
- 2Following online community financial guides and prime directives
- 3Searching local directories for fee-only or fee-based specialists
- 4Using AI tools for general financial education and interactive questioning
In their words
Unedited, grouped by where they were said, most upvoted first within each place, each linked to the thread it came from.
“Even though it says “fee only”, when I get on call with them they are looking for “asset under management” with % fee.”source ↗
“I don’t understand why it says fee only if they are charging for AUM.”source ↗
“I am looking for a financial advisor who I can pay hourly for advice with my particular finances.”source ↗
“How do I find a personal finance specialist that can look at my numbers and help me better allocate my finances. I don’t think I need on going financial advising.”source ↗
Where this came up
People with this problem also raised
- 5How to find a judgment-free financial advisor for mid-life wealth building
- 22How to figure out how much to charge for freelance work
- 6When does hiring a financial advisor actually make sense?
- 11Is paying a 1% wealth management fee actually worth it?
- 3What do year-round accountant services actually include?
- 7Is my financial advisor's pitch a scam?