NAPFA Updates Membership Standards to Allow for Some Commissions
Wealth Management
JULY 5, 2023
The membership organization for fee-only advisors will now allow for a de minimis amount of commission business, as long as it's relinquished.
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How to Find a Fee-Only Financial Advisor
Darrow Wealth Management
FEBRUARY 13, 2025
If youre looking for a fee-only financial advisor or wealth manager, its probably because you know fee-only advisors don’t sell products. Here are some ways to find the best fee-only financial advisor to suit your needs. What do fee-only financial advisors cost? Independent firm.
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How a Fee-Only, Flat-Fee Financial Planner Can Save You $114K+
MainStreet Financial Planning
MARCH 7, 2025
The two most common pricing models are fee-only financial planners (flat-fee or fixed-fee advisors) and AUM-based financial advisors (who charge a percentage of assets under management). While AUM advisors may seem appealing, they often come with high lifetime fees and potential conflicts of interest.
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Weekend Reading For Financial Planners (September 14–September 15)
Nerd's Eye View
SEPTEMBER 13, 2024
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the SEC this week fined 4 RIAs for violations of its marketing rule related to their claims that they offered 'conflict-free' financial advice.
#FA Success 291: Managing Fast Growth And Slow Growth Of A Planning-Centric Advice Firm, With Amy Irvine
Nerd's Eye View
JULY 26, 2022
Amy is the owner of Rooted Planning Group, an independent RIA based in Corning, New York that oversees $67 million in assets under management for 175 client households.
101 Ways Advisors Can Add Value And Attract Their Ideal Clients
Nerd's Eye View
NOVEMBER 28, 2022
From advisors who earn commissions from the sales of financial products to fee-only investment advisors who charge based on client assets under management, the value advisors provide to their clients has often been centered on investment management.
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101 Things That Advisors Actually DO To Add Value (Beyond Just Allocating A Portfolio)
Nerd's Eye View
NOVEMBER 28, 2022
From advisors who earn commissions from the sales of financial products to fee-only investment advisors who charge based on client assets under management, the value advisors provide to their clients has often been centered on investment management.
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How to Find a Fiduciary Financial Advisor
Darrow Wealth Management
NOVEMBER 4, 2024
Looking to find fiduciary financial advisors and wealth managers? Only fiduciary advisors are legally bound to act in your best interest at all times. Independent wealth management firms have no affiliations or allegiances to a fund family or financial product. What is a fiduciary advisor? A note of caution on near me searches.
Genuine Advisory vs Product Selling
Truemind Capital
JANUARY 24, 2025
Many of our clientscome to us after dealing with traditional wealth management setups. Too many products: If your portfolio has more than 20 products in varied proportions, then there is a high likelihood that your advisor is selling you new and new products that pay higher commissions than the existing ones.
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What’s a Fiduciary & Fee-Only Advisor?
Yardley Wealth Management
MAY 30, 2023
The post What’s a Fiduciary & Fee-Only Advisor? appeared first on Yardley Wealth Management, LLC. What’s a Fiduciary & Fee-Only Advisor? A Guide for Financial Planning When it comes to managing your finances, it’s crucial to work with a professional who puts your interests first.
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Fee-Only vs. Commission-Based Information
Inside Information
JULY 25, 2024
billion in assets under management? You might be interested to know that Arkadios Capital recruited a former LPL team that manages $850 million in client assets. And in between, there are predictions and a lot of boasting from the largest investment management firms and custodians, who like to keep their names in the news.
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What does it mean to be a Fee-Only financial advisor?
Walkner Condon Financial Advisors
APRIL 17, 2023
Fee-Only financial advisors and firms receive no sales-related compensation or incentives. They are compensated only by the fee the client pays. The amount of commission that a financial advisor receives can vary depending on the financial products they are selling and the company they are working for.
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3 Things You Don’t Know About Josh
The Big Picture
SEPTEMBER 5, 2024
Not just because of his personal experiences as a stockbroker or an advisor, or as a manager of once a brokerage firm and now an RIA – but because of his deep curiosity about what makes this industry tick. Wells Fargo Advisors said at the end of 2013 it had $375 billion in managed account assets, roughly 27% of the $1.4
Do you want an honest opinion or flattery?
Truemind Capital
AUGUST 23, 2024
We met a prospective client a few days ago and enlightened him about our 0% commission, conflict-free advisory model. The client deals with a wealth manager from a reputed bank. The bank (and many wealth management firms) earns commissions when investors buy its products. He coaches you to manage your emotions.
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Get a job as a Financial Paraplanner at an RIA firm and ignore the schmucky wirehouse and insurance jobs!
Sara Grillo
OCTOBER 21, 2022
In this blog, I interview paraplanning professionals to get their take on what the role is, what it pays, and what it potential is for someone who wants to get a job as a financial paraplanner, possibly as a stepping stone to other wealth management jobs. Fee-only advisors are bound to the fiduciary standard.
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Let a million RIAs bloom
Truemind Capital
AUGUST 9, 2024
She is a part of senior management at an MNC and earns very well but has never invested other than in FDs and LICs. – They cannot find a reliable wealth manager who understands them and manages their investments in their best interest. By regulation, RIAs can’t earn from commissions received from product companies.
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What type of financial advisor is right for you? Questions you should ask.
Walkner Condon Financial Advisors
APRIL 21, 2023
What does it mean to be a Fee-Only financial advisor ? Fee-Only financial advisors and firms receive no sales-related compensation or incentives. They are compensated only by the fee the client pays. Fee-based advisors are where it can get complicated. What does it mean to be a fiduciary?
Is it Wise to Put All Your Money With One Financial Advisor?
WiserAdvisor
JULY 22, 2022
You get access to financial expertise and knowledge on investments and money management, a deeper understanding of how markets work, and how to create and deploy the right investment strategies to attain your goals. It may also be the case that the advisor pushes a particular investment in the hopes of earning a commission.
Financial Literacy Resources for Kids
Your Richest Life
JULY 29, 2022
So whether your child is starting kindergarten or college, here are some resources to build their confidence in money management: Financial literacy for young kids (up to age 8). They can also have more involvement in earning and managing their own money. Right from the start, don’t shy away from talking about money around your kids.
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What is the cost of a financial advisor?
WiserAdvisor
AUGUST 18, 2023
Below are the different types of financial advisors you can choose from based on their fee model: 1. Fee-only financial advisors Average cost: $200 to $400 an hour/ $1,000 to $3,000 per plan/ 1.18% to 0.59% of AUM Fee-only financial advisors are professionals who do not receive commissions from selling financial products.
Secure Your Financial Legacy
Yardley Wealth Management
JUNE 6, 2023
The post Secure Your Financial Legacy appeared first on Yardley Wealth Management, LLC. Here are some additional details and keywords to help guide you: Estate planning involves creating a plan for the management and distribution of assets after death. Advisors may charge a percentage of AUM as their fee.
Amplifying 8 Asian-American Voices in Financial Planning
eMoney Advisor
MAY 1, 2023
” As the 2023 president of the Financial Planning Association and founder of Lee Investment Management, Lee is a standout advocate for the financial planning profession. Learn more about Cheng and how culture and empathy inform her approach in the article, Helping Couples Manage Money in Marriage. ” Achieving the No.
“My client hired another advisor for their business 401(k).”
Sara Grillo
MAY 10, 2024
One of my best clients who runs a business just hired another advisor to manage their 401k plan.” My client’s estate planning attorney said they should hire a fee-only advisor to manage their assets, and then they asked me if I charge fees or commissions. I’m a Social Security expert.
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How Financial Advisors Make Money
Carson Wealth
AUGUST 28, 2022
Most common is charging a percentage of assets managed on behalf of a client. This model is called AUM (assets under management). An AUM fee is charged to a client – for example, 1% annually – by the investment advisory firm. A portion of the fee is then paid to the financial advisor. AUM Fee Model vs. Commission Model
What’s The Difference Between a Broker and an Advisor?
Tobias Financial
NOVEMBER 29, 2022
As you are researching your wealth management options, you will see a number of names for those who can help you invest, including brokers and advisors. Brokers and advisors both offer investment advice, provide investment options, and manage accounts. Brokers are paid by a commission on the investment products they sell.
How to Become a Financial Advisor in India?
International College of Financial Planning
AUGUST 2, 2021
The simplest definition of the role of a financial advisor would of that of a person who helps individuals, families, and organizations make decisions related to their investments, taxes, insurance planning, retirement planning, estate planning, and money management. Wealth Management Firms. Debt Management Firms.
Average Fees for Financial Advisors in 2023
Harness Wealth
MAY 25, 2023
The right advisor can help manage your wealth, plan for retirement, navigate tax implications, and more. Here’s a deep dive into the average fees of financial advisors, in 2023. Fee-based : This structure is a blend of fees and commissions. Hourly Fee Fee charged per hour of advice.
How to Become a Financial Advisor or Financial Planner in India?
International College of Financial Planning
SEPTEMBER 3, 2021
They may charge for their services either on a commission basis or hourly rates. However, our advice is to trust financial planners who either take a flat annual fee or charge per hour for managing your portfolio instead of charging a commission on every stock they buy or sell. How to Compensate Financial Advisors?
Free ki advice can be very costly
Truemind Capital
FEBRUARY 8, 2024
– Hidden costs & agenda : There may be hidden costs in terms of commissions or kickbacks that are not explicitly disclosed while making the sale of any product. – Managing behavior : More than product selection, successful investment requires a lot of discipline and patience. Do you still want free advice?
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How Often Should You Rebalance Your 401(k)?
Darrow Wealth Management
OCTOBER 29, 2024
As you approach retirement, managing risk is even more important. Put simply, rebalancing is one way to manage risk in your portfolio. In the sample closing balance portfolio above, an asset manager would determine which equities should be sold, and which bond funds to buy, to restore the original target allocation.
Is It Worth Paying a Financial Advisor 1%?
WiserAdvisor
AUGUST 3, 2023
Working with a financial advisor entails a financial commitment, typically represented by an annual fee of 1% of the assets entrusted to their management. Generally, financial advisors charge a flat fee based on the services offered and the duration of the engagement, such as $xx for a month/ quarter/ year.
Do You Offer Direct Indexing Yet? What You Should Know as an Advisor
XY Planning Network
JULY 11, 2022
Direct indexing is consuming a lot more ink recently, and one of the primary reasons might be that the elimination of commissions on equities has made it dramatically less expensive to pursue. And, technology, too, might be a big driver. New software tools open the door for an advisory practice of any size to offer it.
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This financial advisor makes getting leads from social media look like a piece of cake!
Sara Grillo
JULY 10, 2023
He asked for help and found a support community Right now Thomas is a fee-only fiduciary financial advisor. But when he started out, he was working for a broker-dealer firm that charged commissions. He stumbled across a man named Russ Ford who was a fee-only flat fee advisor, and he liked the message.
A Hierarchy of Conflicts
Inside Information
JANUARY 31, 2022
The obvious next priority to put on the regulatory watch list is sales commissions. I think it’s self-evident that any product that has to pay people to recommend it is probably not competitive on its own merits.
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What is the future of financial advisor fees?
Sara Grillo
OCTOBER 10, 2022
Fee-only vs. fee-based. But… Fee for service (and only fee for service) is a haven where the sales agenda mimicry cannot follow. Veres believes that the value proposition for a financial advisor has to be something other than, “I can manage your money.” Fiduciary vs. ‘best interest.’.
Should you die and go to hell before selling an annuity?
Sara Grillo
NOVEMBER 14, 2022
Financial advisors have many options at their hands to solve it, from financial planning and investment management services to fixed products such as annuities. Fee only advisors can now purchase annuities for their clients without having to be licensed agents. Are commissions bad? Are commissions bad?
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The Best 401(k) Funds for Millennials and Why You Should Invest in a Mix Now
Yardley Wealth Management
AUGUST 24, 2020
The post The Best 401(k) Funds for Millennials and Why You Should Invest in a Mix Now appeared first on Yardley Wealth Management, LLC. 03% for IXUS and they can be bought commission-free and the spreads on each average only $.01. My name is Mike Garry, and my company is Yardley Wealth Management, LLC. 09% for ITOT and.03%
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Financial planning transparency is FINALLY upon us (whoo hooo!!!!!!!!!!!!)
Sara Grillo
JANUARY 9, 2023
Specific examples: Educating financial advisors of all business models (AUM, fee only, commission, etc.) Executing outreach to college students to encourage them to avoid predatory wirehouse and insurance training programs and pursue fee-only paraplanning jobs instead. There is a record of it. What can advisors do?
Does being a fiduciary financial advisor REALLY matter – or is it “meh?”
Sara Grillo
AUGUST 14, 2023
If their sole method of compensation is a product, and/or they are taking commissions, then in reality it is less likely they are embracing all the values that the standard requires. Commissions are opaque. How large the extent of the conflict matters, as well as how it is managed and disclosed. Insurance is opaque.
Standing Out in the Herd of Predators
Inside Information
OCTOBER 29, 2023
I said that brokers and sales agents are essentially predators, wolves in sheep’s clothing, where the sheep are fiduciary advisors, and the clothing is, well, you know what it is: ‘fee-based’ and ‘best interest’ (instead of fee-only and fiduciary).
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Saving investors from the “Humpty Dumpty portfolio” with hourly financial advisor Rick Ferri, CFA
Sara Grillo
APRIL 11, 2022
Please conduct your own diligence on any wealth manager you are considering hiring. After the session, he provides them with a 3-5 page letter containing recommendations which they then implement on their own or hire an investment manager to execute. I have to kind of restructure things and make them simpler so that they can manage it.
How the SEC Has Strayed From Its Mission
Inside Information
SEPTEMBER 28, 2021
Then came Reg BI, in 2019, where the Commission decided that adopting a separate rule restricting these terms was ‘unnecessary.’. 202(a)(11)(c) of the Advisers Act,” the petition says, “the Commission can increase investor protection by (re-)asserting a distinction between product sales and stand-alone investment advice.”.
6 Tips to Avoid Financial Fraud and Guard Your Investments
WiserAdvisor
MAY 31, 2022
According to the Federal Trade Commission (FTC), in 2021, American consumers lost over $5.8 You can reach out to a professional financial advisor to help you in safely managing and growing your finances and avoiding offers/investments that may seem risky or fishy. However, the numbers tell a different story. In 2021, over 2.8
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The Lobbying ‘Tell’
Inside Information
MAY 30, 2023
In the more comprehensive surveys, you will see the percentage or dollar revenues collected by each BD on annuity, life insurance and other product sales, vs. fees (defined by asset management fees, shared between the reps and the broker-dealer). Sales are important, but the BD executives won’t be talking about that.
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