How Much Does a Financial Advisor Cost in Buffalo?

"What does it cost to work with a financial advisor?" is a deceptively simple question, because the answer depends almost entirely on how the advisor charges — which is also the thing most relevant to whether they're a fiduciary. Here's how the fee structures actually work.

AUM fees (percentage of assets managed)

The most common structure for ongoing wealth-management relationships: you pay the advisor a percentage of the assets they manage for you, typically annually, charged quarterly. Typical range is 0.5%-1.25% per year for a fee-only RIA, with rates often declining as account size increases. On a $500,000 portfolio, that's $2,500-$6,250 per year.

What you're paying for: ongoing investment management, financial planning updates, and ongoing access to the advisor. What you're not getting: unlimited unlimited financial advice outside the investment management relationship — some AUM advisors include comprehensive planning, others charge separately for specific planning work.

Hourly fees

Some fee-only advisors charge by the hour for financial planning without taking on ongoing management — useful if you have a specific question (pension vs. lump sum, estate planning review, one-time retirement readiness check) rather than needing ongoing management. Typical hourly rates range from $250-$500/hour for experienced fee-only advisors.

Flat / retainer fees

A growing fee model, especially among fee-only advisors serving younger or middle-income clients who don't yet have the assets to make AUM pricing work: a flat annual retainer or monthly subscription that covers comprehensive planning. Ranges vary widely —$2,000-$10,000/year is typical, though some advisors specializing in specific planning niches (e.g. public-employee pension planning) may price differently.

Commission-based and "fee-based" — what you're actually paying when you don't see a bill

Advisors who earn commissions from selling financial products aren't paid directly by you, but you do pay — through product fees, insurance premiums, or fund expense ratios that are higher than they would be from an independent source. "Fee-based" advisors charge both fees and earn commissions, which means the conflict-of-interest problem isn't fully removed even though they also charge fees. See our fiduciary explainerfor more on this distinction.

What a real fee-only fiduciary typically costs in the Buffalo market

Western New York's cost of living is meaningfully lower than metro New York City, and advisory fee markets reflect regional cost structures to some extent. You're unlikely to pay Manhattan rates in Buffalo, but the AUM and hourly ranges above are generally applicable. For a specific quote, the fastest path is requesting a discovery meeting — most fee-only advisors offer a free first conversation before quoting a fee.