A financial advisor helps manage wealth. An independent fee advocate examines the price of that relationship.

Investment management fees are among the most significant long-term expenses investors face—and among the least examined. Many investors routinely review portfolio performance, market movements, and asset allocation but rarely take the same level of interest in the fees attached to their advisory relationship.

That oversight can have meaningful long-term consequences.

According to Investor.gov, investment fees and expenses may appear small on paper, but over time they can significantly reduce portfolio growth because every dollar paid in fees is a dollar that is no longer invested and compounding.

As advisory fee structures become increasingly customized, many high-net-worth individuals, business owners, and families are asking a more direct question: