Integrity • Objectivity • Competence • Fairness • Confidentiality • Diligence • Professionalism
Our primary goal as a trusted advisor is to be available and to provide insightful advice to enable our clients to make informed financial decisions. We do not accept anything less from ourselves and this is what we deliver to you. Professional education is a critical reason for our success; to improve our technical expertise, financial knowledge and service to our clients.
Our senior advisors are members of the National Association of Personal Financial Advisors (NAPFA). Consumers look to NAPFA for access to financial professionals who meet the highest membership standards for professional competency, client-focused financial planning, and Fee-Only compensation.
WHY IS IT IMPORTANT TO CHOOSE A FEE-ONLY ADVISOR?
FEE-ONLY - This model minimizes conflicts of interest. A Fee-Only financial advisor charges the client directly for his or her advice and/or ongoing management. Fees are fully disclosed and easily understood. No other financial reward is provided by any institution—which means that the advisor does not receive commissions, rebates or any compensation from third parties.
Fee-Based (fee and commission) – This form is often confused with Fee-Only, but it’s not the same. Fee-based advisors charge clients a fee for the advice delivered, but they also sometimes receive payments for products they sell or recommend. In some cases, commissions are credited towards the fee, giving the appearance of a lower-priced option, but any outside compensation lessens the advisor’s ability to keep the client’s best interests first and foremost.
Commissions – An advisor who is compensated through commissions is primarily a salesperson. A client working with a commissioned sales person must always ask himself: Is this advice truly in my best interest, or is it the most profitable product for the advisor? Unfortunately, often the answer is the latter. In fact, a commissioned advisor usually is required to put the best interests of his employer ahead of the best interests of his client. If you are not paying your financial advisor, who is? That is who they work for.
FIDUCIARY VS. SUITABILITY STANDARD
- Put their client's best interest first
- Act with prudence
- Provide full disclosure
- Avoid conflicts of interest
- Fully disclose and fairly manage, in the client's favor, unavoidable conflicts
- Understand their client’s financial situation
- Be aware of a client’s investment experience
- Know a client’s investment objectives
- Recommend products and give advice suitable to a client’s circumstances