How much does it cost to work with a CFP?

The cost of working with a Certified Financial Planner (CFP) can vary significantly based on the services provided and the fee structure chosen. Financial planners typically charge in several ways: by the hour, per project, through ongoing subscription fees, or as a percentage of the assets they manage on your behalf. According to the 2024 Kitces Report, the median hourly rate for financial planning services is approximately $300, while a comprehensive standalone financial plan may cost around $3,000. Additionally, many planners offer annual subscription services, which average about $4,500. This fee structure allows clients to receive continuous support and advice throughout the year, making it a flexible option for those seeking ongoing financial guidance. Ultimately, the choice of payment method will depend on individual preferences and financial needs, so it is advisable to discuss these options with a CFP to determine the best fit for your situation.