Fee-Only Financial Planning
Fees vs. Commission
The term "fee-only" financial planning is primarily used to
distinguish between those financial advisers who charge a
fee for their services and those who sell financial
products or services on a commission basis (i.e., brokers, agents,
etc.).
Types of Fees
Fee-only advisers generally use two basic fee structures:
Asset Management Fees - charging a percentage
of the assets under management
Hourly Rate - charging per hour of
work
It
is estimated that 95% of all fee-only financial advisers
use the asset management fee structure for compensation.
Are All Fee-Only Planners the Same?
You might assume that all fee-only planners are alike just
because they don't "sell" financial products on a commission
basis. Nothing could be further from the truth. An adviser
charging asset management fees may have just as many
incentives to push particular products or services as a
commissioned broker. This could cost you dearly. To learn more, read the following
articles:
Are Your Assets Costing You Money?
Are
There Conflicts in Your Portfolio?
What to Ask
Before Investing
What Is Liberty's Fee Structure?
Liberty Financial Planning charges an hourly rate for services
rendered. We have found this to be the only way to remove all
conflicts of interest from the financial planning process.
Our interests align with yours. Isn't that what you expect
when seeking financial advice?
Give Liberty a call today to see how we can serve you.
We
appreciate your business!
