Financial Planning Retainer Fees Rose 52% Since 2023

As households prioritize comprehensive advice, average annual retainer fees for financial planning have climbed to $6,815.

Updated on Sept. 21, 2026 in Financial Planning

Bold flat-color editorial illustration showing a brass compass and metallic tokens, evoking the structural shift in modern financial advisory services. — Annual retainer fees for financial planning have risen 52% since 2023, according to new research from Cerulli Associates. AI Illustration. Upload story photo >

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Would you prefer a human advisor who offers financial planning over using digital-only investment tools?

New research from Cerulli Associates shows that annual retainer fees for financial advisory services have increased 52% since 2023. These rising costs reflect a broader shift where more than two-thirds of advised clients would now consider switching to an advisor who offers broader, more integrated financial planning services.

Why it matters

Advisors are under increasing pressure to demonstrate value beyond simple investment returns as automation commoditizes market intelligence. Households are responding by prioritizing firms that provide deep, personalized planning, even as the cost of this expertise rises.

The average annual retainer fee for financial planning has reached nearly $6,815, marking a 52% increase since 2023. While 85% of investors agree that having a financial plan is important, costs continue to climb as firms pivot toward comprehensive advisory models.

The players

Cerulli Associates

A Boston-based research and consulting firm that provides data on the asset management and wealth management industries.

The details

During the intake process, advisors now map out a prospective client's full financial picture to identify short-, medium-, and long-term objectives. Because digital tools have made basic investment updates easier to automate, clients are increasingly paying for the human element of advisory work. Factors like comfort, the ability to ask specific questions, and collaborative plan development now drive nearly 90% of relationship retention for affluent investors.

2023 served as the baseline for the observed increase in financial planning retainer fees.
Cerulli Associates released the final research findings in September 2026.

Money Landscape

This trend highlights the ongoing shift in the financial services industry toward comprehensive, fee-based advice models. It follows the established move away from commission-only compensation toward retainer-based pricing for personalized planning.

If you are currently paying a flat retainer for advisory services, review your most recent fee schedule to ensure the service scope aligns with your current needs. Consider discussing the value of these integrated services with a qualified financial professional to determine if the cost structure is appropriate for your household.

The takeaway

Clients are increasingly prioritizing human connection and collaborative planning when choosing an advisor. Before committing to a higher retainer, ask your advisor for a clear breakdown of the specific planning services included in your annual fee.