The median advisory fee in Detroit, MI is 1.30% of assets under management. This is 4% above the national median. Fees vary based on portfolio size, services provided, and the advisor's fee structure.
There are 55 fee-only financial advisors in Detroit, MI, representing 93.2% of all advisors in the area. Fee-only advisors do not earn commissions from selling financial products, which can reduce potential conflicts of interest.
The most common professional designation among Detroit advisors is the CFP (Certified Financial Planner), held by 15 advisors. Other important credentials include the CFA (Chartered Financial Analyst) and CPA (Certified Public Accountant). These certifications require rigorous education, examination, and ongoing continuing education.