How to Find a Fee-Only Financial Advisor in Claremont, CA
With so many types of financial professionals, how do you choose the right one for you? A fee-only financial advisor may be a good option if you want objective financial advice without commissions attached. This article covers how fee-only financial advisors differ from other financial professionals, the services they offer, and how to find one in Claremont, California.
What Is a Fee-Only Financial Advisor?
A fee-only financial advisor receives fees from clients for the services the advisor provides. They do not receive commissions or other third-party compensation, which can help make them more unbiased when providing financial advice.
Fee-only financial advisors differ from other professionals, such as commission-based advisors, who may receive compensation based on the financial products they sell to clients. Commission-based advisors may have the incentive to recommend certain products that are not in a client’s best interest to earn a higher commission.
Finally, fee-based financial professionals can receive both client fees and commissions.
Our financial planning and investment advisory firm is a fee-only firm. We think this fee structure is the only one that puts us on the same side of the table as our clients. We combine our fee-only services with our fiduciary obligation to clients’ best interests as a Registered Investment Advisor.
What Services Do Fee-Only Financial Advisors Provide?
Fee-only financial advisors can provide a wide range of financial planning services, as they are not limited to recommending certain products. This can be beneficial for clients who have complex financial needs or are looking for a more comprehensive and personalized approach to financial planning.
In addition to providing financial planning and investment management, fee-only financial advisors can help clients with retirement, tax, and estate planning. They can also provide guidance on concerns such as risk management, business exit planning, and debt management.
For example, our firm works with people who are preparing to retire or already retired. We help them cut through the confusion of retirement planning by turning their savings into monthly income, without using annuities. We take a comprehensive approach to clients’ retirement plans, utilizing tax, investment, cash flow, and other strategies to help reach their objectives.
How to Find a Fee-Only Financial Advisor in Claremont, CA
If you are interested in working with a fee-only financial advisor in Claremont, California, there are a few steps you can take. One option is to ask for recommendations from friends, family, or professionals you trust. You can also check with professional organizations that offer listings of area advisors. These organizations include:
Fee-Only Network: You can find Claremont financial planners who do not charge commissions.
CFP Let’s Make a Plan: You can work with firms whose advisors have the CERTIFIED FINANCIAL PLANNER™ (CFP®) designation, one of the most highly regarded designations in the financial services industry.
NAPFA’s Find an Advisor: The National Association of Personal Financial Advisors (NAPFA) requires members to be fee-only, fiduciary advisors.
It is crucial to research any financial advisor you are considering, whether they are fee-only or commission-based. You can read their websites to determine whether their services match your needs.
You should also set up a complimentary call to discuss your situation and how they might help you. You can use the call and any subsequent meetings to ask about their qualifications, experience, fees, and any conflicts of interest they may have.
Final Thoughts
You want to trust your financial advisor’s advice, and working with a fee-only financial advisor can help you feel more confident about their objectivity. When seeking a fee-only financial planner in Claremont, California, you can ask for recommendations, check with professional organizations, and research online to find a reputable and qualified professional.
Schedule a call with a fee-only financial advisor today.
This material was generated using artificial intelligence and edited by Kaleido Inc. from information derived from sources believed to be accurate. This information should not be construed as investment, tax, or legal advice.