Key Highlights
- The number of advisors using retainer fee models has nearly tripled, from 14% in 2023 to 38% today.
- The average retainer fee for financial planning has grown 52% since 2023, from $4,474 to $6,815 in 2026.
- Advisors have an opportunity to build more predictable, recurring revenue by shifting from AUM-based planning fees to retainer pricing.
- Planning technology can help advisors more clearly demonstrate the ongoing value of their advice, supporting the case for retainer-based pricing.
Financial planning has transitioned from a differentiating service to a near-universal practice expectation, and the industry is shifting toward planning-led advice as a result. New research from the Envestnet | MoneyGuide and Datos Insights 2026 State of Financial Planning Fees study shows the number of advisors using retainer fee models has nearly tripled since 2023, while the average annual planning retainer has climbed 52%.
Source: Datos Insights survey of 491 financial advisors, Q1, 2026, and Envestnet MoneyGuide survey of 600 financial advisors, 2023.
Let’s dig into the details.
The rise of the retainer fee
In 2023, only 14% of the advisors surveyed for the State of Financial Fees study used retainer fee models to charge for their planning services. Fast forward to today, and 38% of advisors are using retainer fee models.
As the number of advisors using retainer fee models has risen, so have the fees. In 2023, the average annual/retainer fee was $4,484. Today in 2026, it's $6,815.
| Fee type | 2023 Average | 2026 Average | Change | RIA Average 2026 | Non-RIA Average 2026 |
|---|---|---|---|---|---|
| Flat Fee | US$2,554 | US$2,926 | +15% | US$3,023 | US$2,771 |
| Annual/Retainer Fee | US$4,484 | US$6,815 | +52% | US$7,550 | US$5,237 |
| Monthly Subscription Fee | US$215 per month | US$595 per month | +177% | US$990 per month | US$190 per month |
| Hourly Fee | US$215 per month | US$307 per month | +15% | US$310 per month | US$261 per month |
| AUM/Bundled Fee | 1.05% | 0.96% | -9 bps | 0.94% | 1.01% |
Source: Datos Insights survey of 491 financial advisors, Q1 2026, and Envestnet MoneyGuide survey of 600 financial advisors, 2023.
Envestnet has been tracking the financial planning-fee landscape through five State of Financial Planning Fee surveys, and this rise in retainer fee is one of the most dramatic fee movements in the history of our study. It’s evidence of the shift toward planning-led advice: advisors are being paid for their planning work, not simply for the portfolios they oversee.
The fee gap between RIAs and non-RIAs
There’s also a significant gap in how much RIAs and non-RIAs charge for retainer fees. The average for RIAs using retainer fees in 2026 is $7,550, vs $5,237 for non-RIAs.
RIAs may be further ahead in the industry’s transition to planning-led advice. Their higher retainer fees suggest greater comfort with positioning planning as a distinct deliverable rather than a component bundled into investment management.
Why advisors are gravitating toward retainer fees
Because clients with an annual rate or retainer agreement are usually charged monthly or quarterly, financial advisors tend to know what money is coming in and when, which many advisors appreciate.
The expense predictability of the annual rate or retainer is also attractive to many clients. In addition to knowing how much to budget for financial advisor fees, the fee remains the same, even if their investment portfolio overperforms.
This fee stability also removes a potential conflict of interest. Because the fee doesn't rise or fall with the portfolio, clients don't have to wonder whether advice is being shaped by what benefits the advisor's paycheck.
Is a retainer fee right for your practice? Explore the pros and cons of retainer fees and other advisory fee models with our Business of Financial Planning eBook.
Delivering on the retainer fee promise
Charging a retainer fee changes what clients expect. They're not paying for a single planning document. They're paying for an ongoing relationship, which means advisors need to consistently demonstrate the value of that relationship.
That's where planning technology comes in. 79% of the advisors surveyed for the State of Financial Planning Fees study use planning technology to compare a client's current financial scenario with their recommended plan and quantify the impact of their advice. Another 78% use planning software to deliver financial reports that make that value visible to clients.
From planning to presentation with Envestnet
As one of the most widely adopted financial planning solutions in the industry, Envestnet MoneyGuide is built to help advisors demonstrate and enhance their value. With goals-based planning, real-time collaboration tools, interactive strategy modeling, and a flexible data infrastructure, advisors are using MoneyGuide for everything from crafting a quick high-level plan to capture a prospect's interest, to modeling how different strategies could shape a client's retirement.
With MoneyGuide integrated directly into our powerful Tamarac platform, advisors can automatically pull client goals, risk profiles, and net worth charts straight into customized reports, proposals, and interactive client dashboards. AI-powered Tamarac Report Studio handles the heavy lifting, using contextual questions to instantly generate personalized client briefs and reports that let clients see the ongoing impact of your advice.
Planning and pricing evolve together
As planning moves from being a one-time deliverable to an ongoing relationship, the way advisors get paid for it is evolving too. The retainer fee’s rise is one of the clearest signs of this shift. Advisors who put planning at the center of their practices are being compensated for the ongoing advice and value they provide, not just for the assets they manage.
Want more benchmarks, trends, and strategic insights on fees? Download the 2026 State of Financial Planning Fees whitepaper.
