Best Financial Advisors in Anchorage

Frequently Asked Questions

• Introduction

  There are many titles for financial professionals, so it's challenging to track what each one means. A financial advisor is probably the term you've heard most often. Financial advisor is a broad term for a professional who helps individuals or companies manage their finances, including investment choices. There are over 100 certifications that financial advisors can obtain.
  

  • Financial planners, wealth managers, and investment advisors are all financial advisors with different focus areas.
  • A financial planner helps an individual or a company make a plan to achieve long-term financial goals.
  • A wealth manager helps individuals maintain their wealth through various disciplines and services, such as taxes, estate planning, and investment advice.
  • An investment advisor offers investment advice and recommendations to individuals or organizations.
    

  There’s a misconception that you have to be extremely wealthy to use a financial advisor. In reality, they can be beneficial for people from any income level. Keep reading to find answers to the most commonly asked questions about financial advisors, so you know which type can fit your specific needs.
  

• How much is the salary of a financial advisor in Anchorage?

  The average annual salary of financial advisors in Anchorage is around $124,000. Financial advisors are generally paid amounts ranging from $41,500 to $228,000 per year. Depending on their company, they may also receive additional pay, such as cash bonuses, tips, and profit sharing. Their rates may vary depending on skills, experience, education, and location.

• How do financial advisors in Anchorage get paid?

  Generally, financial advisors in Anchorage get paid through client fees, commissions, and salaries. Client fees are often on an hourly basis, fixed rate, or as a portion of the client's assets under management. In Alaska, most financial advisors earn through commissionable sale of insurance products and specific securities. They can also receive a salary from the investment or insurance firm they work for.

• What are the advantages of hiring an independent financial advisor in Anchorage?

  Independent financial advisors in Anchorage do not work for insurance or investment firms. They do not need to meet the production requirements of a certain firm and can provide a clear perspective of your financial circumstances. Generally, they are not biased toward certain financial products as they are not employed in financial advisory firms. However, independent financial advisors may not have access to low-cost insurance options that financial advisors in big firms do.

• Are financial advisors the same as investment bankers in Anchorage?

  Financial advisors and investment bankers in Anchorage are closely related. Financial advisors work with individual clients, while investment bankers are financial advisors to corporations and governments. According to the Bureau of Labor Statistics, financial advisors work in various settings. On the other hand, investment bankers generally work in corporate settings. Investment bankers also help companies prepare initial public offerings of stock.

• Are financial advisor fees in Anchorage negotiable?

  Financial advisor fees may be negotiable in Anchorage. However, it depends on how the firm or the financial advisor structure the fees. Additionally, you can also negotiate perks, as large insurance brokerage firms often provide other products at a discounted rate. If you want to negotiate financial advisor fees, you can ask your financial advisor to explain what each fee covers.

• Are financial advisors worth it?

  Whether or not a financial advisor is worth it depends on your personal situation. If your finances are fairly straightforward, then you may be better off handling it on your own. But if you have substantial assets or a complex investment portfolio, then hiring someone to handle it for you can be well worth the cost.