In our fee-only method of financial advice, the customer pays for services in an open, fully disclosed manner. With fee-only, you know exactly what you are paying for. If you are concerned about being sold a financial product you don’t really need, then a fee-only fiduciary is the compensation method you want your advisor to use.
As a fee-only fiduciary, I am only paid an hourly or asset management fee. I do not get any commissions or kickbacks, from any source, for any recommendation I make. Therefore, I have no motivation to push products on you. That is a different way of doing business and it has benefits for you.
In contrast to Andrew Marshall Financial, LLC, the traditional compensation method financial advisors use is to receive commissions from products they sell such as insurance policies, annuities, mutual funds and REITs. These charges are often hard to decipher, and therefore a lot of investors don’t realize how much they are actually paying. Paying for hidden sales commissions may actually be more costly than the up front, hourly rate charged by a fee-only financial planner.
By choosing a fee-only planner you are aware of all charges beforehand, and the planner works for you, not a national brand.