Are you looking to make profitable investments in the financial markets? Financial planners can help you with expert, professional advice regarding long-term profitable investment decisions. The best financial planners have the necessary expertise to recommend and choose certain investment projects over others (based on the criteria of profitability and other unique preferences of clients). Financial planners are quite abundant in number in the US, and there also exists different types of financial advisors. Fee-only financial planners are one such type of financial consultants, who provide only specialized fee only financial planning services. Indeed, before you actually start spending money on investments, you should ideally find a financial planner, for proper, expert guidance.
In case you are looking to hire a fee-only financial planner, you need to have sufficient knowledge about them before actually acquiring the services of one such financial planner. Some of the basic information that potential investment clients need to have access to include:
a) Who is a fee-only financial planner?
Investors need to be aware about the particular class of financial advisors who are called ‘fee-only financial planners’. A fee-only financial planner has the following characteristics:
i) Compensation – A fee-only financial advisor receives his compensation (or, payments, or service charges) from his/her client(s) only. The basis of such payment can differ, from being a fixed annual charge to service charges on an hourly basis. Fee-only financial planning services can also be charged as a percentage of total assets that are managed by the planners.
ii) Commissions – Fee-only financial planners do not receive any additional service charges or commissions apart from those received directly from the clients.
