The median advisory fee in Traverse City, MI is 1.25% of assets under management. This is 9% above the national median. Fees vary based on portfolio size, services provided, and the advisor's fee structure.
There are 132 fee-only financial advisors in Traverse City, MI, representing 53% 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 Traverse City advisors is the CFP (Certified Financial Planner), held by 39 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.