Envestnet Report Finds Financial Planning Retainer Fees Up 52 Percent Since 2023

Envestnet announced in a press release the results of its fifth annual financial planning fee study, showing that the average annual retainer fee rose 52 percent since 2023, from 4,484 dollars to 6,815 dollars. The study, conducted by Datos Insights for Envestnet | MoneyGuide, surveyed 491 financial advisors and found that 53 percent had increased their fees in the past year.

Flat fees rose 15 percent to 2,926 dollars, and subscription fees nearly tripled to 595 dollars per month. The only fee model showing a decline was the assets under management bundled fee, which fell slightly from 1.05 percent to 0.96 percent.

Registered investment advisors charged higher retainers than non-RIAs, averaging 7,550 dollars compared to 5,237 dollars. The study also found that 69 percent of advisors now view AI and machine learning as a top concern, up from 29 percent in 2023.

Other findings include a sharp rise in multigenerational client engagement, with 55 percent of advisors now involving clients’ children in planning, and a continued shift toward custodian-based fee collection, which reached 79 percent adoption. Envestnet | MoneyGuide will host a webinar on June 10, 2026, to discuss the study’s findings.