WHY CONSULT A FEE-ONLY PLANNER?

If you are interested in getting financial planning advice, you can go to a planner that:

• Charges by the hour (a fee-only planner)
• Charges commissions on products sold to you
• Charges a combination of commission and hourly fee

There are pros and cons to each.  For example, in the short run, the fee-only planner may be the most expensive.  However, the fee-only planner is able to give you unbiased advice.  If you need a certain type of product, for example, a stock mutual fund, as a fee-only planner I can make the recommendation that is best for you.  I get an hourly fee no matter which product, if any, you eventually purchase.  I am not limited to a set menu of products, and I need not try to sell you products with excessive fees or sales charges.  I have your best interests at heart, and no financial reason to act otherwise.

A commission-based planner may have a more limited list of products that he or she can sell you, some of which might have higher-than-necessary costs, and could be swayed by which products were promising a higher commission to the planner.  Over time, this could prove to be more expensive to you than paying for the time of the fee-only planner.