It is important that you know all the facts before you decide on which financial planner is going to help you to best grow your wealth. A fee only financial planner in Attleboro MA should be on the top of your list of picks. If you are unfamiliar with how these professionals work, continue reading. Once you have reviewed the facts, it will be easy to see why this is someone you want on your financial management team.
What Does It Mean?
As with any financial planner the “fee only financial planner” has a fiduciary responsibility to give advice that is focused on your best interest. The difference is with a fee only planner it is easier for them to stay focused on what is in your best interest! Fee only means:
- They do not receive any compensation from products or sales
- They are not biased or persuaded by commissions from sales or products
- They are inherently free from conflict because financial gain is removed from the situation
Fee only financial planners are freer to offer products and service based on merit. When compensation is taken off the table, the conflict of interest is removed. You get the clear, concise advice that you need to make informed decisions without worrying about potential conflict of interest.
Why is It Better?
Fee only VS Fee based can sound like tricky choices. While it is true most financial planners have the right intention and most do their job well fee only helps them to do better. The fee based (commission model) can stretch the commitment of any human being. When you remove the commission, you remove the struggle of the decision of doing what’s best for the client or doing what’s best for the planner’s financial bottom line. Learn more about fee only planning from Constant Guidance!
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