Fee-Only Financial Planner Services

Fee-only financial planning means 100% objective advice. It’s just that simple. When you’re making important financial decisions, which will affect your future, you need to know the advice you’re receiving is free from any conflicts of interest and is not motivated by a sales commission.

First Financial Consulting proudly stands behind our commitment to provide objective advice, tailored specifically to your needs and goals. We have a fiduciary duty to always act in your best interest as fee-only financial planners. Not many “advisors” out there can say that.

1. We Are Objective

Because we do not earn money from selling a product, we provide unbiased financial advice, free of any conflicts of interest. We are also fiduciaries and are required to act in your best interest and in the most ethical manner possible.

2. We Act in Your Best Interests

We do not accept commissions as fee-only financial planners. Our advice is our only “product”, so there is a direct financial incentive to work in your best interest and develop solutions that fit your specific needs.

3. We Look at the Whole Picture

We work to understand the totality of your situation to provide advice that will tell you where you are now, where you want to go, what impediments may be in the way, and what steps will actually accomplish your goals. We do our best to ensure our recommendations don’t adversely impact each other. We take a holistic approach when analyzing your financial situation.

4. We Provide Comprehensive Solutions

We assess the full picture to provide comprehensive solutions that show how you can achieve all your goals. Our fee-only financial advisors focus on all the solutions available to help you because their compensation and reputation are dependent on results, not product sales.

5. We Give Unbiased Financial Advice Whenever You Need It

Our sense of mission is determined by your needs, not by a product sales cycle. When you need advice, you get it; and you’re never stuck paying ongoing commissions for a product you might not need in the first place.

6. We Can Provide an Objective Second Opinion

There are times when you may be content with your current financial advisor, but want a second opinion. Our compensation basis allows us to provide a much-needed second opinion honestly, and there will never be an incentive to criticize the existing advisor to sell a product.

The Hierarchy of Financial Advice

Who Does What?

There are a lot of advisors, using a lot of different names to describe what they do. It can get a little confusing. We broke down the different types of financial and investment advisors into three categories – our hierarchy of financial advice. We also included their duty to the client, how they are compensated, and how they give advice.

Hierarchy of investment advice pyramid

What Makes Us Different

Stockbrokers & Registered Investment Representatives

At the bottom of the financial advice hierarchy, we have stockbrokers, and registered investment representatives. They have no real duty to their clients. Their only requirement is to generally provide “suitable” product recommendations, but “suitable” is not well defined.

They are compensated through sales commissions. In short, the more investment products they sell you, the more money they earn. The advice they give is compromised by their sales commissions because either way, they are focusing on the sale.

Fee-Based Advisors

In the middle of the financial advice hierarchy, we have fee-based advisors. They have no real duty to their clients. They can charge a fee for advice, but they also sell products for a commission. They have the same suitability standard, but ultimately their advice is again tailored toward selling you investment products.

Any advice they give is most likely part of their sales pitch and has inherent conflicts of interest. Fee-based financial planners don’t always differentiate between providing genuine advice and selling financial products. Clients may be confused by this lack of distinction, blurring the line between receiving unbiased advice and a sales pitch. This raises concerns about the potential conflicts of interest when fee-based financial planners prioritize selling products over providing objective advice.

Fee-Only Advisor

At the top of the financial advice hierarchy, we have the fee-only advisor. Fee-only financial advisors have a fiduciary duty to their clients. In other words, they have a legal obligation to act in their client’s best interest. Fee-only advisors charge a fee for their objective financial advice.

When you work with a fee-only financial planner, you can establish a strong foundation of trust right from the start. They do not sell any investment products and they do not make commissions on sales. This ensures that all advice given is free from any conflicts of interest. At First Financial Consulting, we are proud to say that we fall into the highest category of financial advice.

How We Can Help

First Financial Consulting has enjoyed a long history of providing our clients with objective, fee-only financial advice.

Our fee-only financial planners take a holistic approach, taking into consideration the impact on areas like tax planning and estate planning. Our team of skilled advisors has expertise in many disciplines, equipped to address various client needs and planning requirements. We leverage our extensive databases and share technical resources across the entire team to ensure our clients feel fully supported regardless of their requirements.

In keeping with our fiduciary standard to the client, we never sell any products, never accept commissions, and always act in your best interests. In short, we succeed when you succeed. It’s that simple! When you speak with your current financial advisor, ask them three simple questions:

  1. Do you provide unbiased financial advice free of any conflicts of interest?
  2. Are you a fiduciary financial advisor, and if so, will you sign a fiduciary oath or pledge?
  3. Do you always have the client’s best interests in mind when giving advice and making decisions?

If they answer “no” to any of these questions then maybe it’s time you started working with an objective, fee-only fiduciary financial advisor. If you agree, then we would love to be of service. Click on the button and fill out the form on the page to schedule a meeting.