Fee-Only Financial Planner—Everything You Need To Know
If you’re in need of being on top of your finances such that you would be able to achieve a financial goal in the future, you may benefit from the help of a financial planner! A financial planner evaluates your current financial situation as well as your goal, and makes plans to bridge the gap between your current situation and goal. They advise you regarding investments to try, they give you plans for savings, and accounts that you should be keeping your money in to get maximum benefits. There are two ways a planner may take their compensation for the job: they may go a fee-only route, or opt for fee and commissions. Let’s talk about the differences between these two and the benefits of a fee-only planner. Differences Between A Fee-Only And Fee-Plus-Commission-Based Planner A fee-only financial planner is exactly what it sounds: these planners get compensated solely from the fees their clients offer them for their services. On the other hand, a fee-plus-commission-base