"Of the roughly 285,000 professionals in the U.S. who offer clients financial advice, fewer than 2% are fee-only advisors who follow a true fiduciary standard that prohibits commissions on products recommended to clients and legally requires the advisers to always put their clients’ interests first."
Excerpt from this Wall Street Journal article.
Fee-Only Financial Planning
fee-only financial planning
Fischer Investment Strategies is a NAPFA Certified Fee-Only firm.
The National Association of Personal Financial Advisors (NAPFA) is the leading professional organization of fee-only advisors that are Certified Financial Planners. NAPFA is distinguished both by the competence of its advisors and their method of compensation.
At FIS, we do not accept any fees or compensation based on product sales (commissions) or revenue sharing (kickbacks – typically from mutual funds with high expense ratios). Our fee is completely transparent and billed directly to the client either on an hourly basis, flat fee or on a percentage of investment assets under management.
the difference
There is a difference between “FEE-ONLY” and “FEE-BASED.”
How can a Fee-based (AKA: Commission-based) advisor operate as a true fiduciary when their clients are likely limited to an investment menu that first-serves the advisor’s wallet or company, or both instead of the client? At FIS, we do not sell investments or insurance, nor do we earn commissions or kickbacks of any kind. Our incentive is transparent and it’s a win-win… the more money we make for our clients, the more money we make; the less money we make for them, the less money we make… the way it should be! The SEC’s Regulation Best Interest (Reg BI) now requires advisors to fully disclose their method of compensation within a 2-page summary called Form CRS (Customer Relationship Summary) on their website. We strongly recommend reviewing a firm’s CRS when selecting an advisor.
What Is A Fee-only financial planner?
Fee-only financial planners are Investment Advisor Representatives with a fiduciary responsibility to act in their client’s best interest. A fee-only advisor is compensated only by the fees he or she directly charges to clients, and not by commissions earned from a sale of a financial product.
The Fiduciary Standard
The Importance of a Fee-Only, Fiduciary Advisor
How can a Fee-based (AKA: Commission-based) advisor operate as a true fiduciary when their clients are likely limited to an investment menu that first-serves the advisor’s wallet or company, or both instead of the client?
There is a difference between “FEE-ONLY” and “FEE-BASED”. Fischer Investment Strategies is a NAPFA Certified Fee-Only firm.
"When you hire a fee-only fiduciary investment adviser to manage your investments, develop a financial plan, or both, you alone are paying a financial professional who is legally and professionally committed to acting solely in your best interests — otherwise known as the fiduciary standard. They don’t get paid by investment or insurance companies to sell their products."
Excerpt from this Kiplinger article."Fee-only financial planners are registered investment advisors with a fiduciary responsibility to act in their clients' best interest. They do not accept any fees or compensation based on product sales. Fee-only advisors have fewer inherent conflicts of interest, and they generally provide more comprehensive advice."
Excerpt from this Forbes article.“The time I want somebody to hire a commissioned salesperson or a traditional stockbroker to handle their investments is never, never, never, not ever,” Clark says. “The danger to you is so great when you hire someone who’s not a fiduciary, who’s not legally bound to put your interests first, that it’s like going in reverse with investing.”
Excerpt from this Clark.com article.
We Want To Hear From You
Contact us today to understand more about the white-glove service we provide to clients across the United States as their Fiduciary Fee-Only Investment Advisors.