What's fair / the going rate for a Fiduciary?

[Jennie Berger]

Hi Y'all:

We're in the stages of possibly transitioning away from our financial advisor at a large institution to a third party custodian and hiring a true Fiduciary. The one I'm considering right now is fee based only and asking for 1.5%/year. It feels a little high to me, but I truly don't know what's fair, or what the going rate is. I know that they make money only when we make money, so they have a vested interest in doing well. Do you have any thoughts on this?

Thanks in advance!

-Jennie