Over the years we have provided financial consulting services to a wide variety of investors ranging from hedge funds to family offices, and along the way we’ve seen a wide variety of questions asked. And this post provides answers to some of the most common questions. 

What Does a Financial Consultant Do? 
The reality is that most people aren’t savvy investors and/or simply don’t have the time to watch the markets on a daily basis to discover current and future trends, so many times they rely on financial consultants that continuously have their finger on the pulse. Essentially, a financial consultant is your eyes and ears when it comes to investing, though keep in mind they provide insights but shouldn’t be the final decision – that’s on you. 

Are Financial Consultants Worth It? 
As with most things in life everything is relative, and the need for a financial consultant is highly dependent on your particular goals and needs. For example, you may be savvy and manage your investments well whereas others need a little outside help to ensure they stay on track. We can’t be experts in everything. 

What is the Highest Salary for a Financial Consultant? 
Salaries for financial consultants are really all over the board and heavily based on the types of clients they’re consulting for (a multi-billion dollar hedge fund versus an individual with a small portfolio) as well as where they’re located (e.g. Manhattan) along with other factors. In particular, past success is a determining factor for financial consultants and those with the best insights and track record will always demand the highest pay. 

Do Family Offices Need a Financial Consultant? 
Unlike institutional investors (hedge funds, etc.) with large resources and experienced teams, family offices are sometimes stuck between a rock and a hard place where they have funds to invest but just don’t know which direction to take, and therefore need outside guidance. Family offices don’t necessarily need a financial consultant, though many bring them on to help. 

What Percentage Management Fee Do Financial Consultants Make? 
Unlike financial advisors that are actively engaged in managing money and making decisions/trades, financial consultants like The Practical Contrarian are very different in that we don’t handle any client funds and are simply brought on to help guide clients with market research, proprietary technical analysis and other insights so they can make the best, most informed decisions for themselves. Financial consultants don’t make a percentage management fee for providing guidance and market insights.

If you are a family office, hedge fund or other financial institution that’s looking for a unique perspective, we provide a range of consulting services and are here to help you.