Tampa, FL Fee Only Fiduciary Financial Planner
The main advantage of using a fee-only – or fee-for-service – planner is that your costs are transparent.
While most financial planners are paid through commissions embedded in mutual funds, insurance or other products they sell, fee-only planners charge you a flat fee or hourly rate for the work they do.
Why I need a Fee Only Financial Planner
If you are looking for some professional help with your investments, budget and retirement planning, you should look for a financial planner.
If you are looking for someone to help you, and has your best interests in mind, you should hire a fee-only financial planner.
How Fee Only Financial Planners get paid?
Fee-only financial planners get their income from you, at $100-$250 an hour, to create a financial plan suited for you. Their fees are clearly laid out so that you know exactly what you are paying for and how much.
In some cases, fee-only planners receive their fee as a result of assets under management.
The right fee-only financial planner can help you get your finances on track, and help you plan for a successful future.
Fee Only Financial Planner and Fiduciary Fee Only Financial Planner
Fee-only advisors, or fee-only financial planners, almost always operate as fiduciaries.
A fiduciary must legally give advice that is in their client’s best interest.
You would think all financial advisors would be required to give advice that is in their client’s best interest – but that is not so.
The majority of the financial advice industry has a “suitability standard.
Suitability means a recommendation must be appropriate based on your financial status and goals – but if one product pays the advisor more than another, and both are suitable, they can recommend the product that pays more even if it may not be the best choice for you out of the two options.
Ask a potential advisor if they have a fiduciary responsibility to you or a suitability standard. You want the answer to be fiduciary.
Mintco Financial Team of Independent Financial Advisors Tampa Florida and Buffalo NY
Mintco Financial Independent Advisors maintain a fiduciary relationship with its clients and make decisions concerning them based on their best interests.
Generally, most brokers, investment managers and financial advisor firms do not hold such a fiduciary relationship with their clients.
Whomever you choose to assist you with your financial matters, ask them if they are a fiduciary to you and will act in your best interests.
We help individuals and families develop an inspiring vision of their financial future and a realistic strategy to achieve it.
Combining investment management with broad financial planning, we simplify our clients’ lives, protect their resources, and help them stay on track to realize their most important personal goals.
Call us today to schedule a complimentary meeting:
Email us at firstname.lastname@example.org