Karen DoyleSat, Jun 14, 2025, 3:02 PM 4 min readSuze Orman is a self-made personal finance expert, bestselling author and podcast host who became a stockbroker after she was taken advantage of by one. Orman gives advice on a lot of different financial situations, but one she is passionate about is knowing whether you need a financial advisor — and how to find a good one.Trending Now: Suze Orman Says If You’re Doing This, You’re ‘Making the Biggest Mistake in Life’Try This: Mark Cuban Tells Americans To Stock Up on Consumables as Trump's Tariffs Hit -- Here's What To BuyHere’s what Suze Orman says about the type of financial advisor you should have, and what they should do with your money.On a recent episode of “The Suze Orman Show,” a viewer emailed to ask if an annual fee of 0.09% as too much for a financial advisor to charge. Orman noted that this is a common way for advisors to get paid, and it’s also motivating for the advisor.“There are many people out there known as registered investment advisors that charge a percentage of money under management,” said Orman. “Let’s just say you gave a registered investment advisor $100,000. If they are being paid 0.09% on the $100,000, fine. If they take that $100,000 to $300,000, now they’re making more money. They’re being paid 0.09% on $300,000.“But if they take that $100,000 to $50,000, now they’re only being paid 0.09% on $50,000. So, you make money, they make more money. You lose money, they make less money. I like how that works.”Note that a fee of 0.09%, or 9 basis points, is very low, and the person asking the question probably meant 0.9%, or 90 basis points. More on this below.Find Out: I’m a Financial Advisor — 10 Most Awesome Things You Can Do for Your FinancesOrman goes on to specify that a registered investment advisor who is charging a percentage of assets under management should be investing your money in individual stocks, not mutual funds or ETFs.“(They) should only be investing in individual stocks for you, not putting you into mutual funds where there are heavy expense ratios because then you’re paying double, or they’re charging you commissions or loads on mutual funds”, she said.Once you’ve decided you want to work with a financial advisor, the next step is to find the right one.A good way to start is by asking trusted friends and family members. A personal recommendation from someone the advisor works with is better than all the advertising in the world. Collect a few names from people you know, and add in a Google search if you have to.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P Futures5,988.75 +9.50 (+0.16%)Dow Futures42,245.00 +38.00 (+0.09%)Nasdaq Futures21,695.25 +51.00 (+0.24%)Russell 2000 Futures2,107.50 +6.00 (+0.29%)VIX20.82 +2.80 (+15.54%)Gold3,457.20 +4.40 (+0.13%)PortfolioSign in to access your portfolioSign inTop gainersRUN Sunrun Inc. 10.00 +1.53 (+18.06%)SSL Sasol Limited 5.45 +0.60 (+12.37%)DAR Darling Ingredients Inc. 36.01 +3.02 (+9.15%)BHC Bausch Health Companies Inc. 5.98 +0.47 (+8.53%)ORCL Oracle Corporation 215.22 +15.36 (+7.69%)Top losersVEON VEON Ltd. 38.27 -8.74 (-18.59%)ACHR Archer Aviation Inc. 9.99 -1.74 (-14.83%)DAVE Dave Inc. 208.24 -30.01 (-12.60%)APLD Applied Digital Corporation 11.18 -1.33 (-10.63%)NEGG Newegg Commerce, Inc. 9.36 -1.06 (-10.17%)Most activeNVDA NVIDIA Corporation 141.97 -3.03 (-2.09%)TSLA Tesla, Inc. 325.31 +6.20 (+1.94%)ACHR Archer Aviation Inc. 9.99 -1.74 (-14.83%)LCID Lucid Group, Inc. 2.1000 -0.0600 (-2.78%)F Ford Motor Company 10.43 -0.10 (-0.95%)Earnings eventsTrending tickersNQ=F Nasdaq 100 Jun 25 21,695.25 +51.00 (+0.24%)ES=F E-Mini S&P 500 Jun 25 5,988.75 +9.50 (+0.16%)YM=F Mini Dow Jones Indus.-$5 Jun 25 42,245.00 +38.00 (+0.09%)CL=F Crude Oil Jul 25 74.01 +1.03 (+1.41%)GC=F Gold Aug 25 3,457.20 +4.40 (+0.13%)Top economic eventsPowered by Money.com - Yahoo may earn commission from the links above.