Retirement changes the math. Nothing new comes into the pot, so every withdrawal, tax bill and insurance premium has to be planned years ahead. This rating gathers financial advisors for retirees: big brokerages with in-house planning arms, flat fee firms, and directories where a fiduciary can be found in a few clicks. It is for people five years out from the last paycheck, and for those already living off savings and tired of guessing.
Selection looked at what actually hits a retiree's wallet: how the fee is charged, whether as a percentage of assets, a flat annual membership or an hourly rate, the account minimum, and whether a named planner stays with the client or calls land in a rotating queue. Also checked: Social Security timing, withdrawal sequencing, Roth conversion and tax work, Medicare and long term care questions, estate documents, and whether portfolio management comes bundled or optional. Firms whose main business is selling commission products were left out.
Places here move on community votes, not editorial preference and never for payment. Read the cards for numbers: fee ranges, minimums, what is included. The cons block deserves as much attention as the pros, and reviews from people who have already sat through the onboarding calls usually say more than any brochure.
Vanguard's advice arm pairs its own index funds with human planners. The main tier starts at a $50,000 minimum and charges roughly 0.30% a year, about $30 per $10,000 invested, a fraction of what a traditional wealth firm bills. From $500,000 the Personal Advisor Select tier adds a named Certified Financial Planner who works on withdrawal order, Roth conversions and tax questions. Portfolios are assembled almost entirely from low cost Vanguard funds and ETFs.
It suits a retiree who already keeps an IRA at Vanguard and wants a steady hand on drawdown without paying one percent a year for it. Anyone expecting regular face to face meetings, or holding a tangled estate or a business, will find the service thin: advisors work by phone and video, and the fund menu stays inside Vanguard's own lineup.
This is the managed account program behind Fidelity's branch network of roughly 200 US offices, so a retiree can sit across a desk from the person handling the money. Enrollment starts at $50,000 and pricing sits well above robo level, varying by service tier and balance. There are three tiers: an advisory team for smaller accounts, Wealth Management with a dedicated advisor for clients around $500,000 and up, and Private Wealth Management for large households.
A sensible choice for someone consolidating several old 401(k) plans who wants income planning, Medicare timing and beneficiary paperwork handled in one place. Less appealing to fee hunters, since a similar portfolio can be run for a third of the cost elsewhere. At the entry tier the assigned contact can change, and branch quality varies from city to city.
Schwab's full service planning program charges from 0.80% of assets, with the rate stepping down on larger balances, and enrollment opens at $500,000. Clients get a dedicated advisor plus a support team, and the plan covers income sequencing, tax sensitive withdrawals, insurance review and legacy documents. For smaller portfolios there is Intelligent Portfolios Premium: a $300 one time planning fee and $30 a month, with unlimited access to CFP professionals from $25,000.
The branch network is the practical part: signing paperwork or sorting a wire happens in person instead of in a phone queue. That 0.80% start is not cheap for a portfolio of index funds, and the automated Premium tier parks a fixed slice of the account in cash, which quietly costs return. Investors after private or alternative assets should look elsewhere.
Created in 2018 when Financial Engines merged with Edelman Financial Services, this is the largest independent registered investment advisor in the country by assets, with well over $200 billion under management and roughly 145 offices. Many clients arrive through their employer's 401(k) plan, where the firm runs managed accounts, then stay on into retirement. Planning covers Social Security timing, drawdown, insurance and the basics of estate work, and advisors answer on (800) 601-5957.
Scale is the selling point: a licensed planner within driving distance in most metro areas and a process repeated thousands of times. The trade-off is price, with percentage fees at the upper end compared to brokerage programs, and portfolios that follow house models rather than bespoke design. Advisor caseloads are heavy, so response times differ by office.
Facet threw out the percentage fee: members pay a flat annual membership, commonly quoted between about $2,400 and $8,000, priced by how complicated the household finances are rather than by portfolio size. Founded in 2016 and run out of Baltimore, the firm works fully remotely and assigns a CFP professional who handles retirement income, tax planning, insurance review and estate coordination. Investment management is part of the membership, not a separate bill.
For a retiree with $1.5 million, flat pricing can save five figures a year against a one percent fee, and that arithmetic is the whole pitch. Households with a couple of hundred thousand dollars will feel the same fee take a painful bite. Contact happens over video and secure messaging, so anyone who wants an office to walk into should keep looking.
Ken Fisher founded the firm in 1979 and it now manages hundreds of billions for private clients and institutions, which puts it among the largest independent money managers in the US. The Private Client Group generally asks for $500,000 and charges around 1.25% a year on the first million, with lower rates above that and no commissions on trades. Each client gets an investment counselor, while allocation decisions sit with a central investment committee.
Retirees who want an active manager with a clear house view, plus a steady stream of market commentary, seminars and printed guides, often stay for years. Those who prefer index funds and a quiet mailbox should pass: marketing is relentless, the phone rings soon after a single form is filled in, and portfolios lean heavily on stocks, which stings in a falling market.
Operating since 1985 and grown largely by buying independent practices, Mercer Advisors now oversees tens of billions in client assets with offices in most states. What matters for retirees is the range kept in house: tax return preparation, estate documents drafted by staff attorneys, trust administration and insurance review sit next to portfolio management, so one team sees the whole picture. Relationships typically start in the mid six figures.
It fits households where money is tangled up with wills, trusts, a small business or property in several states, and where paying one firm beats coordinating three. Growth by acquisition has a downside: teams and procedures change after a deal closes, and the advisor a client signed with may hand the file on. Fees are percentage based and closer to the top of the range.
Launched in 2019, Retirable was built for a single job: turning a pile of savings into a monthly paycheck. Clients get a fiduciary advisor, a written income plan covering Social Security timing and withdrawal order, and a spending account with FDIC pass-through coverage through a partner bank, where the published rate on the upper tier sat in the mid two percent range in late 2025. Service runs through an app plus scheduled calls, with a support line on (833) 222-1807.
The model makes sense for people with modest balances who cannot clear the half million dollar minimums at traditional firms and mainly need help with sequencing and cash flow. It is not the place for estate strategy, concentrated stock or business succession. The company is young and small, so there is little long term track record to lean on.
Empower, formerly Personal Capital, still gives away the tool that made its name: a dashboard that pulls in every account, projects retirement cash flow and exposes hidden fund fees. Paid advisory opens at a $100,000 minimum, with a published rate of 0.89% on the first million stepping down toward 0.49% on larger balances. Clients are assigned two advisors and get tax loss harvesting plus portfolios of ETFs and individual stocks.
Handy for a retiree whose accounts are scattered across four institutions and who wants a second opinion before deciding when to claim Social Security. The free tool comes with sales calls, that is the price of admission, and once a balance passes seven figures the percentage fee looks steep next to flat fee firms. Reporting is strong, in person meetings are not offered.
The National Association of Personal Financial Advisors is not a firm but a members' association, running since 1983, and its public search is the shortest route to a fee only fiduciary who takes no commissions. Membership requires the CFP mark, verified planning experience, 60 hours of continuing education every two years and a fiduciary oath signed annually. The directory works by ZIP code and filters by specialty, including retirement income and widowhood.
Useful for retirees who want a single paid session or an hourly review instead of handing over a permanent slice of savings, since many members bill hourly or per project. The catch: vetting stops at credentials. There are no reviews, no ratings and no service standard, so the interview is on the client. Coverage thins out well away from big cities.