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Jim is the founder of MainStreet Financial Planning, an hourly, fee-only financial planning firm, and also created Procrastination Junction, a coaching program for fee-only financial advisors looking to improve their sales skills. Read More.
Starting a new firm can be a nerve-wracking time for an entrepreneurially minded financial advisor, as making the jump involves a significant amount of professional and financial risk.
partners with Lincoln Investment to invest in growing fee-only RIAs. New RIA aggregator on the block, Transcend, formed by execs from Mercer and Budros, Ruhlin & Roe.,
Adding the Virginia and Pennslyvania-based Agili to CW Advisors will boost the combined firm to 11 offices nationwide, with 113 employees and $10 billion in AUM.
As fee-only planners, you dedicate your lives to your client’s financial well-being. A well-known piece of firm owner advice is to “put your clients first” when growing the business. And they’re right. Your clients are—and should be—the heart of your practice.
Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that NAPFA has announced that it will no longer exclude advisors who receive up to $2,500 in annual trailing commissions from previous product sales, if they agree to donate that money to a non-profit organization (..)
The post What’s a Fiduciary & Fee-Only Advisor? What’s a Fiduciary & Fee-Only Advisor? A fiduciary and fee-only advisor is an expert who acts in your best interest and only charges a fee for their services. What is a Fee-Only Advisor? What is a Fiduciary?
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.
Christa is the Managing Director of Financial Planning and Business Development at Sebold Capital, a fee-only RIA based in Chicago, Illinois, which manages $300M across more than 100 client households. Welcome back to the 363rd episode of the Financial Advisor Success Podcast! My guest on today's podcast is Christa Madison.
If you’re seeking greater flexibility, transparency, and even more ways to serve your clients, it’s time to start exploring the advantages of a being a fee-only advisor. Discover key insights to consider before embarking on this transition journey and explore the three distinct paths available for operating as an RIA.
As fee-only planners, you dedicate your lives to your client’s financial well-being. A well-known piece of firm owner advice is to “put your clients first” when growing the business. And they’re right. Your clients are—and should be—the heart of your practice.
With regulatory changes driving advisors to rein in their fees along with clients yearning for more holistic fiduciary advice, it’s becoming increasingly imperative that entrepreneurial-minded advisors are focused on building firms that ensure their interests align with their clients’. 4 MIN READ.
Fee-only advisors receive no compensation from the sale of investment or insurance products. A part of this process might include hiring a financial advisor or hiring a new financial advisor if you have decided to move on from your current advisor. Hiring the right advisor for your needs is critical.
Others may align with broader industry trends, like transitioning to fee-only structures to buffer against market volatility. Still others may choose a hybrid model, combining AUM fees with additional charges for other services like tax planning.
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.
6 MIN READ. Although seemingly obvious, it’s worth saying—a firm isn’t a firm without clients. It can be tempting to think of your marketing activities as aside from your actual firm and what it is you do day to day.
Also in industry news this week: The SEC has penalized 2 firms for false and misleading claims related to their use of Artificial Intelligence (AI), signaling the regulator's interest in advisers' "AI-washing" practices A research report suggests that fee-only RIAs with strong organic growth and enhanced service offerings for their clients are likely (..)
Fee-Only financial advisors and firms receive no sales-related compensation or incentives. They are compensated only by the fee the client pays. Fee-Only financial advisors, on the other hand, do not receive commissions and are compensated through a fee-for-service model.
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.
Which suggests that while advisors might be hesitant to publish their fees on their website before being able to meet face-to-face with prospects, doing so (and linking the fees to the value proposition they offer their ideal clients) could help certain consumers overcome their reluctance and start the process to becoming clients!
Also in industry news this week: A recent study finds that having a defined marketing strategy is a linchpin of marketing success, as advisors with a defined strategy were more likely to have seen an increase in inbound leads during the past 12 months and have more confidence in meeting their practice goals during the coming year than those without (..)
My subscription service is paid for by the user, just like fee-only advisors are paid by their clients. Are there free insights and ideas and in-depth reporting on important topics that I’m somehow missing? And then I realized what is the point of this rant.
And since keeping clean books that can survive any audit threat is our specialty, we’ve collected the most common 1099 questions fee-only advisors have had for us.
wealthmanagement.com) Advisers 7 more lessons from building an fee-only RIA from scratch. (kitces.com) Tax strategies if the TCJA expires in 2026. flowfp.com) Don't let the potential for estate law changes be an excuse to not do estate planning. kitces.com) A Q&A with Barry Mulholland about attracting new planners to the industry.
Which led many firms to market all the ways they were 'better' than other sources of financial advice by highlighting their status as fiduciaries, fee-only advisors, or by offering (more) comprehensive financial planning services beyond investment management, as just a few examples.
We also talk about how Freeman has been able to turbocharge growth in his RIA, going from $7 million to now approaching $50 million in AUM in under 4 years, by using a local SEO strategy that emphasizes their status as one of the onlyfee-only fiduciary firms in their geographic area, why Freeman created 3 different websites targeted at the separate (..)
We also talk about how Freeman has been able to turbocharge growth in his RIA, going from $7 million to now approaching $50 million in AUM in under 4 years, by using a local SEO strategy that emphasizes their status as one of the onlyfee-only fiduciary firms in their geographic area, why Freeman created 3 different websites targeted at the separate (..)
Each piece of information is tracked year-over-year to show trends and provide fee-only financial planning firm owners with key metrics which they can measure their own businesses against. The survey focuses on revenue and expenses, client services, sources of clients/business, and pricing.
In this episode, we talk in-depth about how after working for years in the financial industry, Amy realized there was a missed opportunity in working with career-driven Gen X women like her and decided to focus on serving that type of clientele she knew so well, how the initial fear of launching a firm on her own initially led Amy to partner with another (..)
So how does a fee-only financial advisor (who probably prefers financial planning to marketing) go about creating and implementing higher-impact RIA marketing strategies?
based team sought to be fee-only and escape the contraints Wells Fargo placed on investment options and services he was able to offer his clients. Tom Moran and his Naples, Fla.-based
After 20 years and serving over 1,800 clients as an hourly, fee-only financial planner, I’ve concluded that hourly advisors should not give free advice to prospects.
It was quite a significant change from my first XYPN conference experience in 2014 when most folks turned up their noses to the idea of expanding access to financial planning, not to mention in a fee-only, fee-for-service way.
And while providing fee-only advice or highlighting service as a fiduciary may have once been a fair differentiator, these services are now often considered table stakes, necessitating financial advisors to find more creative solutions that show current and prospective clients that they provide more value than other advisors.
However, in a landscape where the number of fee-only, fiduciary advisory firms has grown – making "commission-free" less of a differentiator for any one firm – it's worth questioning whether it makes sense for firms to describe themselves in terms of their relative lack of conflicts of interest at all.
Sarah-Catherine is the founder of Aptus Financial, a fee-only financial planning firm based in Little Rock, Arkansas, that is approaching $2M in revenue and works with over 480 client households. Welcome to the 356th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Sarah-Catherine Gutierrez.
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