What is changing in planning fees now
Financial planners and registered investment advisors are quietly increasing what they charge for planning work, and the change is happening across fee models. Over the past three years the retainer and subscription market has moved sharply higher, with some reports showing an average annual retainer now near $7,550 for RIAs and subscription pricing that has jumped by roughly 52 percent in that span. Many firms say they raised prices for new clients first, and kept existing arrangements unchanged to avoid pushback.
How big the shifts are
The movement is not subtle in every corner. Subscription-style fees that once averaged a few hundred dollars per month are now commonly approaching $375 per month on the lower end and much higher for premium RIA practices. Standalone planning projects and hourly work remain available, but median standalone plan prices and hourly rates have also risen, with the median comprehensive plan still often in the $3,000 to $5,000 range and hourly work frequently priced at $250 to $400. At the same time, asset-based fees are under pressure and have trended lower, reinforcing a broader industry tilt toward explicit planning charges.
Why advisors are raising prices
Firms point to three linked forces. First, a shift in client demand has moved more value into ongoing planning, tax and coordination work rather than simple portfolio construction. Second, firms report rising cost-to-serve from compliance, technology and hiring experienced planners. Third, many advisors are deliberately rethinking pricing to reflect service depth instead of only assets under management. That strategic reframing helps explain why some advisors are comfortable raising fees without seeing large client attrition.
What to do before your next review
- Get the fee schedule in writing. Request a current, itemized list of fees and how they apply to your relationship. Written terms reduce surprises and give you a baseline for comparison.
- Clarify scope and deliverables. Ask which services are included: retirement modeling, tax coordination, estate strategy, annual checkups. A small price change is more reasonable when scope increases.
- Ask how the increase will be applied. Many firms raise fees only for new clients or for new engagements. If a firm proposes across-the-board hikes, request phased implementation or grandfathering language. Forty three percent of firms that raised fees limited increases to new clients in recent studies.
- Compare fee models. Consider whether a retainer, subscription, hourly or blended AUM model better fits your needs and tax situation. Pricing benchmarks and advisor guides can show what peers charge for similar service levels.
- Negotiate service tiers. If the new headline number feels high, propose a tiered plan that reduces deliverables or shifts some work to an hourly basis. Many advisors already use complexity tiers to justify different pricing bands.
Bottom line
Fee increases are a growing feature of the planning market as firms reposition toward explicit, ongoing advice. Being proactive, seeking clear written terms, and benchmarking your service against market norms will give you leverage and clarity at your next review. If misalignment remains, a second opinion from a credentialed planner can help you find a better fit at a price that matches the advice you actually need.