The median advisory fee in Bloomington, IL 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 96 fee-only financial advisors in Bloomington, IL, representing 60.8% 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 Bloomington advisors is the CFP (Certified Financial Planner), held by 18 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.