Get All Access for $5/mo

How Much Does Financial Planning Actually Cost? To achieve your financial goals, find out how much you should be spending on financial planning.

By Brittney Castro Edited by Dan Bova

Opinions expressed by Entrepreneur contributors are their own.

While finanical planning can be imperative for setting up future goals, knowing how financial planners work -- and what approach works best for you -- can be tricky.

In a video by Entrepreneur Network partner Brittney Castro, the certified financial planner goes over three different ways that people charge for financial planning.

The first method she explains is through a commission-based model. Financial professionals may charge a commission based on the products or solutions they offer you -- this is usually done through mutual funds or insurance policies. Another way is by taking a percentage of the assets they manage for you. The last method Castro explains is a flat-fee method, which is determined on the services needed and the complexity of the financial life.

To help you learn more and reach your financial goals, click play.

Watch more videos from Financially Wise Women's Brittney Castro on her YouTube channel here.

Related: Reach Your Financial Goals and Live the Life You Want

Entrepreneur Network is a premium video network providing entertainment, education and inspiration from successful entrepreneurs and thought leaders. We provide expertise and opportunities to accelerate brand growth and effectively monetize video and audio content distributed across all digital platforms for the business genre.

EN is partnered with hundreds of top YouTube channels in the business vertical and provides partners with distribution on Entrepreneur.com as well as our apps on Amazon Fire, Roku and Apple TV.

Click here to become a part of this growing video network.

Brittney Castro

Founder and CEO of Financially Wise Women

Brittney Castro is the founder and CEO of Financially Wise Women, a Los Angeles-based financial planning firm whose mission is to teach women and couples in their 30s and 40s the art of managing their money the fun and simple way.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

More from Brittney Castro

To Receive More In Your Life, Begin to Give More

3 Trouble-Free Tips to Help You Build Up Your Savings

Make Quicker Progress Towards Your Savings Goals With These 3 Tips

Editor's Pick

Branding

ChatGPT is Becoming More Human-Like. Here's How The Tool is Getting Smarter at Replicating Your Voice, Brand and Personality.

AI can be instrumental in building your brand and boosting awareness, but the right approach is critical. A custom GPT delivers tailored collateral based on your ethos, personality and unique positioning factors.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

Is the AI Industry Consolidating? Hugging Face CEO Says More AI Entrepreneurs Are Looking to Be Acquired

Clément Delangue, the CEO of Hugging Face, a $4.5 billion startup, says he gets at least 10 acquisition requests a week and it's "increased quite a lot."

Business News

Apple Reportedly Isn't Paying OpenAI to Use ChatGPT in iPhones

The next big iPhone update brings ChatGPT directly to Apple devices.

Growing a Business

He Immigrated to the U.S. and Got a Job at McDonald's — Then His Aversion to Being 'Too Comfortable' Led to a Fast-Growing Company That's Hard to Miss

Voyo Popovic launched his moving and storage company in 2018 — and he's been innovating in the industry ever since.

Business News

Sony Pictures Entertainment Purchases Struggling, Cult-Favorite Movie Theater Chain

Alamo Drafthouse originally emerged from bankruptcy in June 2021.