Clear Money Guide
What this review evaluates
A decision brief covering fit, cost, limitations and alternatives.
Comparison tables scroll horizontally on smaller screens.
Updated July 1, 2026.
Short answer (2026): A focused, 2-hour second-opinion financial advisor review gives you clarity on a specific decision without committing to ongoing AUM. A typical scope is 60 minutes live + 30 minutes prep + 30 minutes written memo. Start by estimating hours with the hourly scope estimator, then compare the quote in dollars with the financial advisor fee calculator. Pick one primary topic, one mini-check, and confirm what fits before you book.
What fits in 2 hours (choose one primary + one mini)
- Primary (pick one): portfolio fit & costs • “all-in” AUM vs flat-fee comparison • RSU sell/withholding check • Roth conversion this year • fund lineup clean-up (3–5 tickers)
- Mini (pick one): emergency fund target • 401(k)/HSA allocation nudge • fee line-item review in ADV • quick tax bracket check
- Deliverables: 1–2 page recap, plain-English action list, “what to do if X happens” notes
What you’ll get (and what you won’t) in a 2-hour review
| Included | Not included |
|---|---|
| Focused live consult (≈60 min) | Ongoing monitoring or trading |
| Prep time (docs skim, fee math) | Custodian transfers / account setup |
| 1–2 page written summary + checklist | Tax return preparation or multi-year plan |
| Specific calculations (e.g., AUM vs flat) | Complex modeling (Monte Carlo, estate drafts) |
Need a bigger scope? Use the Hourly Scope Estimator to size a 4–7 hour engagement.
Between reviews, research your own portfolio.
A once- or twice-a-year check-in works best when you can see your full picture in between — a research tool fills that gap without a monthly retainer.
What Morningstar Investor actually is. A paid subscription research platform — not a matching service and not an advisor. It gives you a combined view of your holdings across accounts, fund and stock research, and screening tools you would otherwise pay an advisor to run for you.
We earn a commission if you subscribe through this link. Morningstar has published independent fund and stock research since 1984. This is not the only research platform available, and it does not replace professional advice on your specific tax or estate situation.
Opens on Morningstar’s site in a new tab. Affiliate Disclosure.
Time & cost examples (2 hours total)
| Scenario | Time split | Cost @ $200/hr | Cost @ $300/hr |
|---|---|---|---|
| Fee second-opinion (AUM vs flat-fee + ADV check) | 30m prep · 60m call · 30m memo | $400 | $600 |
| Portfolio tune-up (3–5 ETFs, costs, re-align) | 30m prep · 60m call · 30m memo | $400 | $600 |
| RSU quick plan (withholding + sell cadence) | 30m prep · 60m call · 30m memo | $400 | $600 |
What to send ahead (so your hour is maximized)
- Recent statements (401(k), IRA, taxable) and fund list (tickers ok)
- Your firm’s ADV Part 2A fee pages (and wrap brochure if any)
- Pay stub showing supplemental withholding (for RSUs/bonus)
- Last year’s tax return (first 2 pages is fine for a quick bracket check)
- Your top 3 questions (bullet points)
How to run the fee math (fast)
- Open the AUM Fee Calculator and enter your tier schedule + ETF expense ratio (and platform fee if any).
- Compare to a flat-fee or hourly scope. If you prefer hourly, size it in the Hourly Scope Estimator.
- Keep the summary as a PDF and attach it to your notes.
Email script (book a 2-hour second-opinion)
Subject: 2-hour second-opinion (fees/portfolio)
Hi — I’m looking for a 2-hour second-opinion engagement. Could you confirm availability and send a written quote for this scope?
- Primary: [pick one: AUM vs flat-fee math • portfolio tune-up • RSU withholding/sell plan • Roth conversion check]
- Mini: [pick one: emergency fund target • 401(k)/HSA allocation nudge • ADV fee line-item review • quick tax bracket check]
- Deliverable: 1–2 page written summary and action checklist
I’ll send statements, ADV pages, and last year’s return. Thanks!
Red flags (don’t ignore these)
- No written deliverables for second-opinions (ask for an outline or sample)
- Pushing proprietary products instead of answering your specific question
- Bait-and-switch into full AUM without pricing your small scope first
Related reads & tools
- How to Negotiate Financial Advisor Fees · Questions to Ask a Financial Advisor
- AUM Fee Calculator – Hourly Scope Estimator
- Advisor Proposal Scorecard – Advisor Contract Checklist – Advisor Service Calendar Builder
- How Much Does a Financial Advisor Cost? · Flat-Fee Financial Advisor
- Find a Financial Advisor (Hub)
Education only; not investment or tax advice. Confirm fees in Form ADV and get scope, deliverables, and SLAs in writing.