What is Advice-Only Financial Planning?

There is a growing number of financial advisors that only charge for their advice rather than manage their clients’ investment accounts.

The Advice-Only model is still small, but thanks to incredible demand from consumers, this type of financial planning service is rapidly growing. As Advice-Only advisors, we believe this is the future of financial advice, the best way to avoid any conflicts of interest, and be true fiduciaries to our clients.

No Account Management

Advice-Only financial planners don’t directly manage their clients’ investment accounts.

Many traditional advisors require their clients move their investment accounts to them to manage and then charge a percentage of those assets as their fee (annual average is 1.0-2.5%). This fee is usually deducted quarterly directly out of the accounts they manage.

Advice-Only financial planners provide financial advice without taking over their clients accounts and instead show clients how to manage their own accounts themselves. We show clients exactly what to invest in and how to invest in their accounts. The hardest thing about investing is understanding what to invest in and how much to buy, not pushing the buttons to make the trades.

Transparent Pricing & No Asset Minimums Means Wider Access

Advice-Only advisors have transparent fee structures that allow them to work with a broader group of people who otherwise may not have access to financial advice with a traditional advisor.

Many traditional Assets Under Management (AUM) financial advisors require having a minimum amount of money to work with them - usually $500,000 or $1 million of investable assets in accounts they would manage.

Not having asset minimums means more people have access to quality financial advice.

No Conflicts of Interest & True Fiduciary Relationship

An Advice-Only advisor provides comprehensive financial planning in a true fiduciary capacity without any conflicts of interest or hidden fees. We aren’t paid in commissions or charge portfolio management fees when working with our clients.

For example, if an advisor is compensated only from insurance sales, they may limit their advice to what serves that incentive. Clients may not receive help with budgeting, picking benefits through work, or planning for future goals if they worked with a traditional financial planner.

Charging only for advice eliminates conflicts of interest. We believe our only priority should be helping our clients invest in ways that benefit them the most.

Advice-Only is the Future of Financial Advice

The financial services landscape is always evolving and the terminology remains confusing, but we’re proud to help define and drive forward the Advice-Only model to benefit more consumers.

We feel this is the best way to serve anybody wanting financial advice that is truly in their best interest.