What does “Fee-only” mean, and why is it important?
If you work with a Fee-only advisor, the only compensation they receive is directly from their clients. In contrast to brokers and traditional commission-based advisors who claim to offer something for nothing (“free advice”), Fee-only advisors accept no (zero, zip, nada) hidden commissions or kickbacks of any kind from other influencers who may distract from serving their clients’ best interests.
Fee-only should not be confused with “Fee-based.” Fee-based is clever play on the term “Fee-only” that commissioned based advisors created to muddy the waters. In practice, Fee-based usually means the bulk of an advisor’s revenue comes from commissions and kickbacks from selling products, with only a tiny amount of fees paid directly by clients.
Bottom line: Fee-based means you’ll be sold products. Fee-only means you’ll get unbiased advice.
Curious to know more? Learn more about Fee-only here.
Fee-only advisors (who are also fiduciaries) are a minority, but we are growing group!
Below is a list of Fee-only, fiduciary advisors located around the country:
Fee Only CFP® Financial Advisor and Fiduciary Retirement Planner in Scottsdale and Phoenix Arizona Dave Fernandez, Certified Financial Planner™, of Wealth Engineering, LLC, provides investment management, retirement planning and financial planning. https://wealth-engineering.com/
CFP Fiduciary Financial Advisors – Redrock Wealth Management. Redrock is a Las Vegas based fee only financial planning and investment management firm. They focus on retirement transition and decumulation management for those in or nearing retirement.
Fee Only Long Island Financial Advisor – Landmark Wealth Management, LLC is a Registered Investment Advisor firm and member of NAPFA, with an office in Melville, New York. They have CERTIFIED FINANCIAL PLANNERS™ (CFP®) to provide comprehensive financial planning and investment management services to individuals, families, small business owners, and charitable foundations.
Yardley Wealth Management, LLC Independent Fee Only Financial Advisor Yardley Wealth Management, LLC is an independent financial advisor firm that provides Fee-Only CFP® services and investment management in Newtown, Pennsylvania.