What is a Fee-Only Financial Planning Firm?

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Every financial advisor is paid for doing their job, however, they don't all get paid the same way. A fee-only financial planner is paid directly by the client on a transparent and pre-arranged payment plan. This can be an hourly or project rate, monthly retainer, or percentage of the investments managed.

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Other financial advisors are paid through other sources including the companies they recommend. For example, if the planner sells you a specific investment, mutual fund, insurance, or other products, they may receive a commission or partial commission directly from the company. Not at MoneyCafe Advisors, we are fee-only.

 

When working with MoneyCafe Advisors, there are no hidden fees, commissions, or third-party payments. Only if you need the help of another professional that we recommend might there be a charge for their services paid directly to them. 

 

If you are not sure how your financial advisor gets paid, just ask them. It is not something that is easy to tell. At MoneyCafe Advisors, we are upfront about all financial issues.

 

How a planner is paid is quite important because it can affect the advice that they offer to their clients. Professional financial planners need to make a living like everyone else, and they are likely to be most loyal to the person who pays them. If that person is you, the client, then pleasing you will bring them long-term business. They will consistently offer you the best financial advice that they have.

 

On the other hand, a commission-based financial planner may be focusing on the companies they work for before the client's best interest. That situation may not be beneficial for all of their clients.

 

Ultimately, you want to pick a planner who will be loyal to you and your interests. We believe that the planner is a fee-only planner.

 

We hope this helps you understand the value of allowing Moneycafe Advisors to assist you with your financial planning needs.

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