Short Answer: It Depends.
There are different type of fee structures, from asset based to flat fees to a mix.
Depending on your situation and what you are looking to get from you financial one may be better than the other.
The pricing of a fee-only financial adviser depends on:
The quality of the adviser and the reputation / brand value of the firm he / he / she works for. The amount of your money he / she would need to advice on or manage. The complexity of your issues he / she needs to handle. This increases the amount of his / her time involvement. The total time it takes for his / her to ‘coach’ you during the entire period of engagement.
Usually, the pricing involves a percentage of the your money he / she is managing (around 1% per annum), with a minimum pricing per year (few thousands of rupees every year). If extra time is incurred to ‘coach’ you over many conversations, then an hourly fee is charged. This is in addition to costs incurred for managing your money (such as trading fees, software platform fees, fund administration fee, etc) — these fees are for the investment management services.
…..to be continued