Eductation

What are FEE-ONLY Financial Services?

We help acheive what matters most to you.

WHAT DO WE MEAN WHEN WE SAY “WE’RE A FEE-ONLY FINANCIAL SERVICES FIRM”?

We:

  • Do not earn commissions
  • Are not paid by the products you buy
  • Are strictly paid by a fee or hourly rate
  • Have a fiduciary responsibility to you
  • Are not employed by a brokerage, bank, or insurance company
  • Provide financial planning and investment advice without an agenda or sales quota
  • Are a private, locally-owned company
  • Work for you

HOW DO MOST FINANCIAL FIRMS CHARGE FOR ADVICE?

The vast majority of financial services and advisory firms are owned by banks, large broker-dealers, or insurance companies. They have multiple operating layers which generate revenue through commissioned investment or insurance sales, advisory fees, revenue-sharing arrangements, and a variety of other fees. Such fees passed on to the client can be very difficult to calculate.
Fees can be built into products (annuities, mutual funds, insurance products, etc.) where they aren’t easily identifiable on a monthly account statement. Product fees are often paid annually as long as you own them. For example:

  • 12(b)-1 mutual fund fees can be the most elusive fees for the consumer to identify and generally pay 0.25% per year to your broker.
  • Annuities can often charge between 1.5% and 4.5% per year depending on the various investment options, rider charges, and insurance costs. So, a client with a $100,000 annuity may pay anywhere from $1,500 to $4,500 per year in expenses to the insurance company and broker.

Lack of transparency causes problems when trying to understand the full price for advice when you use commission or commission and fee-based* advisors. We can help you identify and calculate what you are currently paying.

*Such fees are assessed in a variety of ways, making them very difficult to calculate.
https://www.feeonlynetwork.com/fee-only-vs-fee-based-financial-advisors/

WHAT MAKES US UNIQUE?

As a locally-owned, independent, Fee-Only , Registered Investment Advisor (RIA), our commitment lies solely with our clients’ financial well-being. Unlike entities owned by brokerages, banks, or insurance companies, our autonomy ensures that our advice is unbiased and aligned with your best interests. Transparency is paramount in our client relationships, and our fees are straightforward, explicitly outlined in invoices and frequently discussed during client meetings. Operating under a strict fiduciary duty, our clients’ interests come first in the decision we make. We take pride in our ethical approach – we don’t earn commissions from product sales nor do we chase sales quotas. Your financial success is our singular focus.

IMPORTANT QUESTIONS WHEN LOOKING FOR A FINANCIAL ADVISOR:

  • How much am I paying for advice?
  • Is my advisor a broker, insurance agent, or both?
  • What are the explicit and hidden fees in my advisory relationship?
  • Does my advisor get paid commissions or renewal commissions from the products in my portfolio?
  • Does my advisor sell insurance policies and/or annuities?

Contact us today for an introductory meeting and let us help you steward your finances well.

A BETTER APPROACH THROUGH FIDUCIARY ADVICE

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