Fee-Only vs. Commission-Based Advisors: Why it Matters How your financial advisor is paid can tell you a lot about whether their financial interests are well-aligned with yours. To help you make an informed choice, here’s a quick comparison of the three ways in which advisors may be paid: fee-only, commission-based, and fee-based. Fee-Only Advisors Fee-only…
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What is a Fee-Only Financial Advisor? How your financial advisor is paid can tell you a lot about whether his or her financial interests are well-aligned with yours. A fee-only financial advisor is compensated solely by client fees, unlike commission-based advisors who earn income through product sales or fee-based advisors who may be compensated by…
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Choosing a financial advisor is an important decision, as he or she will play a critical role in helping you achieve both your personal and financial goals. When considering a fee-only financial advisor, there are a few key questions you should ask to ensure you find the right advisor for you. What services do you…
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Relationship Your advisor’s sole, continuous duty across your entire relationship should be to advance your highest financial interests (even ahead of their own) as a FIDUCIARY. Primary Role Your advisor should understand and account for your total wealth interests and advise you accordingly. Understanding all components of your financial situation and how they interact is…
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One of the major changes resulting from the passage of the Tax Cuts and Jobs Act was the elimination of all miscellaneous itemized deductions. This category of deductions included unreimbursed job expenses, tax preparation fees, and investment advisory fees.
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Most people do not even know what NAPFA stands for let alone why NAPFA advisors are recommended. As a NAPFA advisor since 2009, I wanted to take this opportunity to tell you about the organization.
DetailsThe DOL Fiduciary Rule, requires that all financial professionals who work with retirement plans or provide retirement planning advice must act as a fiduciary.
DetailsFinancial advisor, financial planner, financial consultant, wealth manager, etc. – there are many names used by investment professionals today. But what’s more important than the title that a professional gives him or herself is the standard of care the investment professional is held to a fiduciary standard or a suitability standard.
DetailsYou are about to retire – things are going to change. Do you need a financial planner to have a successful retirement?
DetailsAs much as we would prefer a world where doctors could focus exclusively on addressing our health care questions strictly according to our highest interests, we know that reality is less rosy. Best intentions are often complicated by multiple parties, conflicting incentives and confusing costs. The more informed you are of any undisclosed motivations – who is compensating whom, and how – the better your choices can be when deciding to whom to turn for your family’s quality medical care.
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