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I am wondering if financial advisors that are paid by the hour exist? My situation is that I would like to hire someone paid by the hour for getting support to make my financial decisions. Most offers from serious companies I have seen ask you "to invest with them" or try and sell you some securities for a commission, which I want to avoid. I roughly know what I am doing re: investing, but would want a second opinion from time to time. I have a tax accountant already.

Does a service exist whereby I show someone my documents, statements, and work out a plan of action along the lines of "invest X here, pull Y out there, purchase Z security over here?"

Moreover, what is such service called and how would I go about finding someone? It can be a freelancer as long as they are industry-certified.

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  • Are you based in the US? Financial advisory regulation is different in different places, please comment or edit / add a tag with your location.
    – Vicky
    Jun 28, 2023 at 11:29

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Yes, there are hourly advisors that do exactly what you're looking for. The issue is finding them since the majority are still AUM based (require asset management, usually charge a percentage of assets they manage but sometimes are flat-fee).

You should be able to find an hourly or flat-fee advisor through XY Planning Network, NAPFA, Fee Only Network, Garrett Planning Network, and some other advisor search sites. The CFP Board's "letsmakeaplan" advisor search also works, but that's not fee-only exclusively. I don't remember off the top of my head if those directories allow you to filter for compensation type.

The Advice Only Network is made of exclusively flat-fee and hourly advisors (no AUM), so that might be the most relevant advisor search tool for you.

I'm sure there are many other directories and places to search for an advisor.

(Full disclosure - I'm a member of XY, NAPFA, FON, and CFP Board)

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You are looking for a fee only financial advisor. They will recommend types of investments, they won't recommend specific investments. They can evaluate your plans.

Some will charge a set amount for a plan, others will charge a percentage of the amount of money being addressed.

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