What is Fee-Only Financial Planning?

A fee-only financial planner is paid a set rate for the services they provide their clients or a percentage of the assets they manage. Their only compensation comes from fees paid directly from their clients instead of receiving commissions on the sale of a financial product, adhering to a fiduciary standard.

Benefits of Fee-Only Financial Planners

Transparency – we have no conflicts of interest since we do not receive any other form of compensation other than the fee received from the clients we work with.
Client focused advice – since the goal is no longer to sell financial products to clients, a fee-only financial planner can now spend more time offering advice to their clients based on their current financial situation.
Flexible payment arrangements – many fee-only financial planners charge a percentage of the assets they manage while also implementing a minimum a client must be able to invest for them to manage. Other fee-only financial planners choose to charge by the hour, have a flat fee for a service provided or require a retainer fee. Some even use all of the payment arrangements based on the best payment approach for the potential client.

Why Insight?

We are a team of fiduciaries – we serve you and your best interests

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How to Choose a Financial Planner

A financial planner can play a vital role in helping you reach your financial goals.

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Why Do I Need A Financial Plan?

You may have done some planning along the way, but you might ask yourself, “Is it enough?”

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See the benefits of working with a fee-only financial planner

Schedule a complimentary meeting or phone call today.

Why Choose a Fee-Only Financial Advisor

Comprehensive Approach – Fee-only financial advisors can provide a more comprehensive look at their client’s financial situation.
“Fiduciary Duty” – Many fee-only financial advisors conduct their business as a fiduciary; meaning they must always act in the client’s best interest.
Not driven by product choice, but by the needs and financial goals of the client. Essentially a fee-only advisor can be product agnostic and offer a wide range of products and services to meet their client’s needs.

Why should I choose a Fiduciary?

A fiduciary is someone who always acts in the best interest of the client. Fiduciary financial advisors are held to the highest standard when it comes to working with clients. The fiduciary standard is much more than a suitability standard that many hybrid advisors or brokers are held to. A fiduciary is also able to make investments on the clients behalf if authorized to do so. By choosing to work with an advisor who acts in a fiduciary capacity, clients can be confident that their advisor is transparent about any potential conflicts and that they will act in their best interest.

Frequently Asked Questions

What's the Difference Between a Financial Planner and a Financial Advisor?

A personal financial advisor provides comprehensive financial advice tailored to your specific needs, covering various aspects such as investment strategies, wealth management, and day-to-day financial decisions. On the other hand, a certified financial planner (CFP), recognized by the Certified Financial Planner Board, undergoes rigorous training and adheres to strict ethical standards to assist clients in achieving their long-term financial goals and retirement planning. Both roles aim to enhance your financial well-being, but a CFP often brings a higher level of expertise and certification to the table.

How Do I Find a Fee-Only Financial Advisor?

Finding a fee-only personal financial advisor involves researching firms that are transparent about their fee structures. Look for firms like Insight Wealth Strategies that prioritize client-focused financial advice without the conflict of interest that commission-based models may present. A fee-only advisor can help you with investment management, wealth management, and retirement planning without the pressure of selling specific financial products. It’s essential to verify their credentials, ensuring they are registered with the Certified Financial Planner Board for added assurance of their expertise and ethical standards.

Is there a Downside to Using a Fiduciary?

Using a fiduciary personal financial advisor has minimal downsides. The primary concern might be the cost, as fiduciaries often charge higher fees due to their commitment to acting in your best interest. However, this cost is offset by the benefit of receiving unbiased financial advice that prioritizes your financial goals over product sales. Fiduciaries are legally obligated to provide advice and manage your assets with a focus on your best interests, ensuring that your investment strategies and wealth management plans are aligned with your long-term objectives and retirement planning needs.

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