What is a fee only financial planner? Before choosing to hire a financial planner, it’s important to understand how fee-only financial planner and fee-based financial planner are paid. So, what is the difference between those two? A fee-only advisor such as Pillar Wealth Management, LLC. who works with clients with $5 to $500 million in liquid assets, charges fees for their services and does not earn commissions on sales of financial products.
Strategies For Families Worth $25 Million To $500 Million
The Art of Protecting Ultra-High Net Worth Portfolios and Estates
The insights you’ll discover from our published book will help you integrate a variety of wealth management tools with financial planning, providing guidance for your future security alongside complex financial strategies, so your human and financial capital will both flourish.
Clients frequently share with us how the knowledge gained from this book helped provide them tremendous clarity, shattering industry-pitched ideologies, while offering insight and direction in making such important financial decisions.
Fee-based financial planners often receive hourly compensation. Others earn a percentage of their client’s investment assets under management. A financial planner compensated only by fees is known as a fee-only financial planner.
Table of Contents
- Why shouldn’t you work with commission based financial planners?
- Why are fee-only financial planners the most popular choice of advisor?
- How to find a financial planner?
- Why I should hire a fee-only financial advisor?
- The best financial planner near me
- How the advisor works
- What are the fees that you can expect?
- Which services does your advisor provide?
- How long will the advisor work with me?
- How does the planner manage my account?
- Will the financial planner be an independent third party or a full-service firm?
- What is the fee structure to expect based on the investment amount they’ll manage?
Would you like help selecting a financial planner that can help you manage $5 million or more in liquid assets? Schedule your consultation call with Pillar Wealth Management, LLC.’s co-founders Hutch Ashoo and Chris Snyder.
There are three forms of compensation for financial planners.
- First, financial planners can be compensated through a commission-based model.
- Second, financial planners can earn a combination of commissions and fees.
- Finally, financial planners can be compensated through a fee-only model.
Why shouldn’t you work with commission based financial planners?
With these compensation structures in mind, is there one that is better than the others? Let’s start with commission earning financial planners. A financial planner that is compensated from a commission-based model may put their interest of earning money ahead of your portfolio’s earnings.