What Does Fee-Only Mean?
Technically fee-only means we do not receive a commission for any financial products we recommend. In practice fee-only means we work for you and not a mutual fund or insurance companies.
We have relationships and access to many of the big-name investment products you are familiar with, we just do not get paid by them to sell their products. In return, they often give you lower costs since they do not have a commission to pay.
Why Did We Choose To Be Fee-Only?
For over 10 years, before starting Family Life Financial Planning, I worked in various businesses selling financial services. After 10 plus years of watching bad advice be given out simply because a large commission was available I knew it was time to make a change. We decided it was time to give normal families good advice without requiring them to buy an expensive whole life insurance policy or annuities they would never need.
Then How Do You Get Paid?
We get paid just like any other trusted advisor such as a lawyer or an accountant. Our clients pay us directly. We offer one-time services, ongoing retainers and investment management. Most families can find a service and payment that fits both their needs and budget.