It’s a fair question, and one most financial planners are strangely reluctant to answer directly. If you’re a physician, dentist, or incorporated business owner in Calgary shopping around for financial planning help, you’ve probably noticed that pricing is the one thing that’s hardest to pin down before the first meeting. Here’s a plain answer, along with what actually drives the number up or down.
The short answer
In Calgary, ongoing financial planning advice typically costs somewhere between 1% and 1.5% of assets under management annually for fee-based planners, though the structure matters as much as the percentage. Some planners charge a flat annual retainer instead, particularly for clients whose planning needs (corporate structure, tax strategy, insurance) are more complex than their investment portfolio alone. A first, no-obligation consultation is almost always free — the cost conversation only starts once you decide to move forward.
Why “it depends” isn’t a dodge
Financial planning fees genuinely vary based on a few concrete factors, not just how a firm feels like pricing things:
How you’re charged matters more than the number itself. Fee-based advisors are compensated primarily through a percentage of assets managed, with fees disclosed transparently and no product commissions layered on top. Commission-based advisors may look “free” upfront but are compensated through the products they sell — which can create an incentive misalignment that’s worth understanding before you commit. Fee-only advisors charge a flat fee for advice and don’t manage investments directly. Each model isn’t inherently better, but they answer different needs.
Complexity drives cost more than portfolio size. A straightforward RRSP and TFSA client costs less to serve than an incorporated physician juggling a professional corporation, a holding company, family income splitting, and group insurance for staff. If your finances involve corporate structures, the planning work is doing more than picking investments — it’s coordinating with your accountant and lawyer, which is reflected in the fee.
Ongoing service versus one-time advice. A single financial plan document costs differently than an ongoing relationship that includes ongoing portfolio management, yearly reviews, tax-season coordination, and being available when a major decision (buying a practice, incorporating, an insurance need) comes up mid-year.
What Calgary physicians and dentists specifically should ask about
If you’re incorporated, the fee conversation should include more than just an assets-under-management percentage:
- Does the fee cover coordination with your accountant on corporate structure and tax strategy, or is that billed separately?
- Are insurance products (disability, critical illness, corporate-owned life insurance) sold on commission even if the advisory relationship is fee-based? Ask directly — many practices blend models here.
- Is there a minimum asset level or minimum annual fee, and how does that compare once your corporation’s retained earnings are included alongside personal assets?
- What’s included in an annual review, and how often does it actually happen?
Why this matters more for incorporated professionals
An advisor being vague about cost is a signal worth paying attention to on its own. But for physicians and dentists specifically, unclear fee structures are more consequential than for a typical retail investor, because the same advisor is often making recommendations that touch your corporate structure, your insurance, and your personal investments simultaneously. A percentage-based fee that sounds reasonable on your personal portfolio can look very different once your holding company’s retained earnings are factored in — that’s a conversation worth having explicitly, not discovering later.
Where this fits into your broader plan
The right fee structure is the one that’s transparent, that you understand completely before signing anything, and that matches the actual complexity of the advice you need — not necessarily the lowest number on paper.
If you’d like a straight answer on what your specific situation would cost, a free consultation is the place to ask. Book a time here, or read more about financial planning for doctors and incorporated professionals across Canada and financial planning for dentists.
This article is for general educational purposes and does not constitute personalized financial advice. Fee structures vary by advisor and by individual circumstances — confirm exact costs and services included directly with any advisor before engaging their services.
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