The Fee-Only Difference
Fee-only financial advisors work only for their clients and are compensated by a previously agreed upon fee from the client. They do not accept commissions or compensation from any other source nor do they sell insurance. For this reason, fee-only planners are able to be completely objective in their evaluation and are free to recommend a course of action based solely on strategic financial considerations and cost-effectiveness for each client.
In order to maintain complete independence and objectivity, we work for our clients on a fee-only basis. We believe a significant conflict of interest exists when an advisor's compensation is dependent on the recommendations being made.
Our clients recognize that having an expert who can provide objective advice is what they have always wanted. The only way to assure this level of objectivity is to remove the distractions and temptations of commissions. Peace of mind comes from having an advisor who is on your side.