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Beth Pinsker

Here’s the only kind of financial advice people think is worth paying for

It’s hard to put a fixed dollar amount on peace of mind and other behavioral strategies that advisers offer

Tax planning fell low on the list of things people want to pay for.

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If you pay a 1% management fee for a financial professional to handle your finances, you likely expect that advice to yield far more than it’s costing you. But how would you know? 

There’s no one quantifiable measure of success for all the components that go into financial planning. Some research papers have tried to put a number on it, like 1.5% of assets, or so forth, but that’s mostly for investment performance. If you pay in any capacity for financial advice, you’re also going to get services like retirement and tax planning,...