What qualifications should retirement planners have?

The best retirement planners typically have certificates or other designations like CFP®, ChFC®, EEA, CPA-PFS or RICP. Check their online reputation and verify their certifications.

Can I switch planners if I'm unhappy?

Whatever the reason -- be it limited communication, poor advice or high fees -- you can switch to a new planner. Check your contract for any fees involved with transferring assets or cutting ties. Ask yourself why you're unhappy and what you need. Then, vet several professionals to find one that better suits those needs.

How often should I meet with my planner?

You should meet with them as frequently as needed to achieve your goals. For some, this could be monthly or once every few months. For others, once or twice a year might be enough.

Is it worth paying a fee-only planner vs. doing it myself?

Fee-only fiduciary financial planners work with their clients' best interests in mind, but they still charge a fee. If you have a simple investment portfolio, want to save on upfront costs and are prepared to handle the finer details of retirement planning yourself, the DIY route may be better.

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Best Retirement Planners: How To Choose the Right One

October 28, 2025

7 min Read

Written by Angela Mae

Edited by Joe Evans

Financial advisor explaining paperwork to elderly retired couple front of desk.

Inside Creative House / Getty Images/iStockphoto

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If you’re nearing retirement or already planning ahead, finding the right retirement planner can make all the difference. These professionals help you design a personalized plan that covers everything — from income and investments to taxes and estate strategy — so you can retire with confidence.

According to Vanguard, retirees who work with a professional advisor can boost long-term portfolio returns by roughly 3% per year through smarter tax moves and consistent investing habits. That small difference can mean hundreds of thousands of dollars more over a lifetime.

But not all retirement planners are equal. The best one for you depends on your goals, budget and comfort level with managing money.

Quick Facts: What To Know Before Hiring a Retirement Planner

Category	Key Details	Typical Cost
Fee-Only Fiduciary	Works solely for clients — no commissions or product sales	About 1% of assets or $250 to $400/hr
Commission-Based Advisor	Earns through selling financial products	Varies; higher potential for bias
Robo-Advisor	Automated service with limited human input	0.25% to 0.65% of assets annually
CFP® (Certified Financial Planner)	Credentialed expert trained in retirement, taxes, and estate planning	Flat fee about $2,500
Typical Annual Retainer (2025)	Ongoing personalized planning	Flat fee of about $2,500

Types of Retirement Planners & How They’re Paid

Not all retirement planners work the same way. The differences in how they charge — and who they work for — can affect the quality and objectivity of their advice.

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1. Fee-Only Fiduciaries

These professionals are paid directly by you, not through commissions. They’re legally obligated to act in your best interest and typically charge around 1% of your managed assets or an hourly rate of $250 to $400.

According to NAPFA, fiduciary planners consistently earn higher client trust and satisfaction scores because they avoid conflicts of interest.

2. Commission-Based Advisors

These advisors make money selling products like insurance, annuities or mutual funds. While not all commission-based planners are bad actors, be cautious — their incentives may not always align with your best financial interests.

3. Robo-Advisors

Digital platforms like Betterment or Wealthfront offer automated portfolio management. They’re great for low-cost, hands-off investors, charging just 0.25% to 0.65% per year, according to Morningstar’s 2024 Robo-Advisory Report.

Pro Tip: Always ask whether your planner is a fiduciary — someone legally required to act in your best interest. The CFP Board (2024) mandates this standard for all Certified Financial Planners.

Credentials To Look For

When it comes to retirement planning, credentials matter more than titles. Look for these designations:

CFP® (Certified Financial Planner): Expert training in retirement, taxes, insurance and investments.
ChFC® (Chartered Financial Consultant): Similar to CFPs, but with deeper coursework in risk management and estate planning.
CPA-PFS (Certified Public Accountant – Personal Financial Specialist): Combines tax expertise with financial planning.
RICP® (Retirement Income Certified Professional): Focused on converting assets into steady income.
EA (Enrolled Agent): Licensed tax specialists approved by the IRS.

According to FINRA, advisors with advanced certifications like these maintain higher compliance standards and longer client retention rates.

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How Much Do Retirement Planners Cost in 2025?

Fees vary depending on the advisor’s model, experience and services offered. Here’s what you can expect in today’s market:

Fee Structure	Median Cost
Hourly Rate	About $268 per hour
Flat Fee (One-Time)	$2,554
Annual Retainer	$4,484 per year
Assets Under Management (AUM)	1.05% annually
Subscription Model	$215 per month

While traditional advisors charge more, they often deliver more value — particularly if you need tax guidance, estate planning or complex retirement income strategies.

How To Vet a Retirement Planner

Before you sign a contract, do some due diligence. Start by asking these key questions:

Are you a fiduciary? (They must act in your best interest.)
How do you get paid? (Flat fee, hourly or commission?)
What credentials and licenses do you hold?
What’s your investment philosophy?
How often will we meet to review my plan?

You can verify your planner’s record through:

FINRA’s BrokerCheck for disciplinary actions.
SEC’s Investment Adviser Public Disclosure (IAPD) for firm details.
Better Business Bureau (BBB) for client complaints and ratings.

In fiscal year 2024, SEC enforcement activity significantly declined, with 583 total actions brought, a 26% decrease from the previous fiscal year, showing better regulatory oversight and transparency.

DIY Retirement Planning vs. Hiring a Professional

Not everyone needs a retirement planner — but most people benefit from one. Here’s how to tell which camp you’re in:

When DIY Might Work

You may not need professional help if you:

Have a simple 401(k) or IRA
Are comfortable using online tools like the GoBankingRates Retirement Calculator
Have low debt and basic tax needs
Prefer handling investments yourself

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When To Hire a Retirement Planner

It’s worth hiring a pro if you:

Are managing multiple investment or real estate accounts
Own a business or plan to sell one soon
Expect a large inheritance or estate
Want to minimize taxes in retirement

Fidelity’s 2024 Investor Study found that retirees working with planners were 15% more confident in their financial security than DIY investors.

Real-Life Examples

Example 1: Dual-Income Couple (Ages 55-60)

Challenge: $1.2M in savings, unsure about withdrawal strategy.

Best Fit: Fee-only fiduciary with an RICP® credential.

Why It Works: Expertise in sustainable retirement income planning.

Example 2: Small Business Owner (Age 58)

Challenge: Selling a business and managing large tax exposure.

Best Fit: CPA-PFS or CFP® with tax expertise.

Why It Works: Can coordinate capital gains strategy and retirement planning.

Example 3: Single Professional (Age 45)

Challenge: Managing a new inheritance.

Best Fit: CFP® with estate planning experience.

Why It Works: Helps protect inherited assets and minimize taxes.

Working With a Planner: What To Expect

Once you’ve found the right retirement planner, the next step is understanding how the process works.

Most planners follow a clear structure — starting with a discovery call to learn about your goals and ending with an ongoing plan designed to keep your retirement strategy on track.

The Discovery Call

Most retirement planners start with a free 30 to 60-minute consultation to learn about your goals, assets and challenges. Bring:

401(k) and IRA statements
Tax returns
Debt balances
Insurance policies
List of financial goals

The Planning Process

Initial consultation and goal-setting
Portfolio and risk review
Customized strategy presentation
Implementation and ongoing check-ins
Annual performance and fee reviews

Final Take to GO: Measuring Value and Staying on Track

A great planner won’t just set up your retirement — they’ll help you manage it. Expect:

Annual progress reports and rebalancing
Fee transparency and performance metrics
Adjustments for tax law changes and inflation

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The best retirement planners combine expertise with empathy — guiding you toward a confident, stress-free retirement. Look for experience, clear fees and fiduciary duty. Then, compare two or three advisors before committing.

To get started, try the GoBankingRates Retirement Calculator or read The Best $250 You Can Spend on Retirement Planning Before the End of 2025 for next-step ideas.

FAQ

Here are the answers to some of the most frequently asked questions about retirement planning and how it works:

What qualifications should retirement planners have?
- The best retirement planners typically have certificates or other designations like CFP®, ChFC®, EEA, CPA-PFS or RICP. Check their online reputation and verify their certifications.
Can I switch planners if I'm unhappy?
- Whatever the reason -- be it limited communication, poor advice or high fees -- you can switch to a new planner. Check your contract for any fees involved with transferring assets or cutting ties. Ask yourself why you're unhappy and what you need. Then, vet several professionals to find one that better suits those needs.
How often should I meet with my planner?
- You should meet with them as frequently as needed to achieve your goals. For some, this could be monthly or once every few months. For others, once or twice a year might be enough.
Is it worth paying a fee-only planner vs. doing it myself?
- Fee-only fiduciary financial planners work with their clients' best interests in mind, but they still charge a fee. If you have a simple investment portfolio, want to save on upfront costs and are prepared to handle the finer details of retirement planning yourself, the DIY route may be better.

Information is accurate as of Oct. 28, 2025.

Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.