Pricing Your Advice-Only Financial Planning Services

Pricing is the decision that keeps most advice-only advisors up at night — especially those transitioning from AUM, where pricing was automatic: 1% of assets, done.

In an advice-only practice, you have to choose a fee structure, set a number, and defend it to clients. That feels harder. But it's also one of the biggest advantages of the model: you control your pricing, and your income isn't tied to market performance.

Here's how to think about pricing your advice-only services.

The Three Fee Models

Most advice-only planners use one (or a combination) of these:

Hourly

You charge by the hour. Clients book time, you answer their questions and provide analysis.

Best for: Focused questions, quick check-ins, clients who don't need a comprehensive plan. Also works as an entry point — a client books an hour, likes the experience, and upgrades to a full plan.

Pros:

• Low barrier to entry for clients
• Easy to explain and justify
• Flexible — works for any scope

Cons:

• Penalizes efficiency (the faster you work, the less you earn)
• Hard to predict revenue
• Clients may hesitate to "start the clock"

Flat Fee (Per Engagement)

You charge a fixed price for a defined scope of work — typically a comprehensive financial plan.

Best for: Comprehensive financial plans where the scope is clear upfront. This is the most common model for advice-only practices.

Pros:

• Clients know the cost upfront — no surprises
• You're rewarded for efficiency
• Easier to market with a clear, fixed price

Cons:

• Scope creep can eat your margins if you don't set boundaries
• You need to estimate complexity accurately

Monthly Ongoing

Clients pay a recurring monthly fee for ongoing access to planning and advice.

Best for: Clients with complex, evolving financial situations who want regular guidance. Monthly ongoing fees are your recurring revenue stream.

Pros:

• Predictable, recurring income
• Deeper client relationships
• Revenue isn't tied to market performance

Cons:

• You need to deliver ongoing value to justify the fee
• Some clients may not use the service enough to justify the cost (their perception, not yours)

What Advisors Are Actually Charging

The following data comes from the Advice-Only Network advisor directory — 97 verified advice-only planners actively accepting clients as of March 2026:

Median fees have been climbing steadily as the advice-only market matures and advisors gain confidence in their pricing.

Pricing by Complexity, Not Time

This is the single most important pricing principle for advice-only planners: your fee should reflect the complexity of the client's situation, not the hours you spend.

A straightforward retirement plan for a couple with W-2 income and a 401(k) is different from a plan for a business owner with stock options, rental properties, a trust, and a pending divorce. Both might take you 10 – 15 hours of work. But the second one requires deeper expertise, carries more risk, and delivers significantly more value.

Consider defining tiers based on the factors that drive your workload:

• Straightforward: W-2 income, standard benefits, simple investment accounts, no business ownership or stock compensation.
• Moderate complexity: Multiple income sources, stock compensation (RSUs, options), rental property or small business, recent or upcoming life transition.
• High complexity: Business owners with complex structures, significant concentrated positions, multiple entities or trusts, cross-border or multi-state tax situations.

Clients understand this intuitively. A lawyer charges more for a complex corporate merger than a simple will. A CPA charges more for a business return than a 1040. Your pricing should work the same way.

How to Set Your Initial Rates

If you're starting out or transitioning, here's a practical process:

1. Start with your revenue target

What do you need to earn? What do you want to earn? Work backward from there.

Example: Set your annual gross revenue goal, estimate how many comprehensive plans you can deliver per year, add projected monthly ongoing clients, and divide to find the average fee per engagement you need to charge.

2. Estimate your capacity

How many plans can you realistically deliver per year? This varies widely based on plan complexity, your process, and whether you have support staff. Start by tracking how long your first several plans take and extrapolate from there.

3. Look at the competition

Check what other advice-only planners in your market charge. Look at listings on the Advice-Only Network, NAPFA's hourly advisor directory, and advisor websites. You don't need to match their pricing, but you should know the range.

4. Set your price and test

Pick a number that feels slightly uncomfortable — that usually means it's about right. You can always adjust after 10 – 20 engagements once you have real data on how long plans take and what clients are willing to pay.

Common Pricing Mistakes

Underpricing out of fear

The most common mistake. You set your fee well below market because you're afraid no one will pay more. Then you burn out doing twice as many plans as you need to. Advice-only planning is a premium service. Price accordingly.

Charging the same fee for every client

A 28-year-old with a 401(k) and a 58-year-old business owner with a $3M estate are not the same engagement. One-size-fits-all pricing either overcharges simple clients or undercharges complex ones.

Not charging for ongoing access

If clients can email you anytime with questions, that has value. Either include it in your plan fee (and set boundaries) or offer a monthly ongoing fee for continuing access. Don't give it away for free.

Discounting for "easy" clients

Every client takes some minimum amount of time for meetings, preparation, and follow-up. Even a simple plan requires your expertise and attention. Maintain a floor price that reflects the minimum value you deliver.

Anchoring to your old AUM revenue per client

If a client was paying you thousands per year in AUM fees, you might think your flat plan fee is a pay cut. But remember: you're no longer spending time on portfolio management, trading, and rebalancing. Your revenue per hour of planning work likely goes up.

Communicating Your Fees to Clients

How you present your pricing matters as much as the number. Here's what works:

Lead with value, not price. Before discussing fees, make sure the client understands what they're getting: a comprehensive analysis of their entire financial life with specific, actionable recommendations.

Compare to AUM. Most clients have some awareness of the 1% model. Show them the math — compare what a traditional AUM advisor would charge annually on their portfolio to your one-time flat fee. The difference is usually striking.

Be transparent and upfront. Put your fees on your website. Clients respect transparency, and it filters out people who aren't willing to pay for quality advice. You'll waste less time on sales calls that go nowhere.

Offer options. Give clients 2 – 3 service tiers to choose from. Most will pick the middle one. This is basic pricing psychology, but it works because it gives clients agency.

When to Raise Your Prices

You should raise your prices when:

• You're at capacity and turning away clients
• Your plans are taking less time (you've gotten more efficient)
• Your close rate is above 80% (your prices are probably too low)
• You've invested in additional certifications or specialization
• It's been more than 12 – 18 months since your last increase

A good cadence is to review pricing annually and adjust as your experience, reputation, and demand grow.

The Bottom Line

Pricing an advice-only practice is simpler than it seems. If you're still weighing whether to make the switch, read our guide to transitioning your practice to advice-only. Charge a flat fee based on complexity, offer monthly ongoing fees for continuing relationships, and price at a level that reflects the real value you deliver. Don't anchor to the AUM model, don't underprice, and don't be afraid to raise your rates as demand grows.

The clients who value quality financial planning will pay for it. The ones who won't weren't your clients to begin with.