What is a “Fee-Only” Financial Advisor and Why is it Important?
According to the CFP Board, a “fee-only” financial advisor must not receive sales-related commissions.
A life insurance agent, who accepts commissions, from an insurance agency or insurance company, for example, is not a “fee-only” only advisor. Likewise, a Series 7 Registered Representative paid a sales commission by a Broker-Dealer for selling investments.
Here’s why we believe the “Fee-Only” method of compensation to be the most transparent and objective model of advisor compensation.
Certified Financial Planner (CFP): Experience and Knowledge to Help Clients Succeed
What does a Certified Financial Planner (CFP) do for his clients? This graphic provides a great visual answer.
Need Life Insurance? Remember “Buy Term and Invest the Difference”
As a Certified Financial Planner professional, I believe that for most families with young children, not having life insurance on Mom and Dad is reckless financial behavior. The good news is term life insurance is surprisingly affordable. So if you need life insurance, should you buy term and invest the difference? The short answer is yes! …
