The median advisory fee in Farmington, MI is 1.38% of assets under management. This is 20% above the national median. Fees vary based on portfolio size, services provided, and the advisor's fee structure.
There are 62 fee-only financial advisors in Farmington, MI, representing 86.1% 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 Farmington advisors is the CFP (Certified Financial Planner), held by 4 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.