Wealth management is a branch of financial services dealing with the investment needs of affluent clients. These are specialised advisory services catering to the investment management needs of affluent clients.

A financial advisor is worth paying for if they provide help you need, whether because you don't have the time or financial acumen or you simply don't want to deal with your finances. An advisor may be especially valuable if you have complicated finances that would benefit from professional help.

Wealth Enhancement Advisory Services charges an hourly rate of up to $600 an hour or a flat fee of between $250 to $25,000 for a plan, depending on the complexity. For retirement plan consulting, Wealth Enhancement Advisory Services charges either up to $600 per hour or an asset-based fee of up to 1%.

In a brokerage relationship, clients typically pay a commission to LPL on each transaction in the account. Clients don't pay commissions in an advisory relationship. The amount of the commission in a brokerage relationship varies depending on the security or investment product selected by the client.