Comparison
Quick answer
A financial planner creates comprehensive plans covering budgeting, insurance, retirement, taxes, and estate goals — typically working with clients across a wide range of income levels. A wealth manager provides all the services of a financial planner plus active investment management, tax optimization, estate planning coordination, and family office-level services — typically for high-net-worth individuals (HNWIs) with $1M+ in investable assets. Wealth management is financial planning plus hands-on asset management for affluent clients.
Financial planning is the foundation; wealth management is the full-service structure built on top of it. If you are building toward financial independence or navigating a key life event, a fee-only financial planner provides exceptional value. Once your assets cross the $1M threshold and your situation grows more complex, a wealth manager's integrated approach — combining planning, investment, tax, and estate — typically justifies the higher cost.
Hourly rate
$150–$400/hr
Most common for financial modeling, analysis, and strategy sessions
Per session
$200–$600
Typical for a 60–90 minute advisory or review session
Monthly retainer
$2,000–$8,000/month
For fractional CFO engagements (typically 1–3 days/week)