Wripple’s Post

What is a fee-only financial advisor? According to NAPFA, the professional organization for fee-only advisors, a fee-only advisor is “one who is compensated solely by the client with neither the advisor nor any related party receiving compensation that is contingent on the purchase or sale of a financial product.” In other words, fee-only advisors do not receive commissions. But why does this matter to you? Three reasons: 1. Unbiased advice: When fee-only financial advisors recommend you purchase a financial product, such as a life insurance policy, they don't receive a commission for selling that product. Therefore, you can feel good about their recommendation(s) being in your best interest. 2. Transparent fees: Fee-only advisors only get paid by you, the client. Therefore, you know exactly what you pay, which allows you to determine whether the services you receive warrant the fees you pay. 3. Focused on your long-term goals: Fee-only advisors are incentivized to do good work so that you will retain their services for many years. In other words, they’re not trying to make a quick sale and move on to the next client. That said, there are plenty of very good advisors who put their clients' interests ahead of their own and aren’t fee-only. But if you're in the market for a new financial advisor, make sure you educate yourself on how they get paid, so you can make the decision that's most aligned with what you're looking for. ---------------- If you like this content, follow me on LinkedIn for more tips and strategies on how to create a better financial future for yourself.

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What Do You Dislike Most About Financial Advisors? First, let’s be clear. Anyone who calls themselves a financial advisor may not be one in the first place. I’m talking about the financial advisors who give real advice and guidance about your full financial picture. Second, we’re talking about professionals who work with you on specific components of your finances. These are financial advisors who help you with budgeting, debt strategies, social security analysis, large purchase recommendations, retirement income strategies, estate planning, asset and titling reviews, goal planning, investment and portfolio strategies and recommendations, asset location strategies, equity compensation analysis, risk tolerance evaluation, emergency funding, life insurance, disability insurance, property and casualty insurance, and long-term care and health insurance. I’m genuinely interested in what you dislike. Protect the innocent. Leave out names. Share some of your most disliked thoughts, feelings, or experiences.

New blog post is now live! We continue our focus on commission and fee-based financial advisors by discussing some of the products they sell, what products to avoid, and how to identify a fee-based advisor who makes commissions. These commissions create conflicts of interest, making fee-only financial advisors the best choice for unbiased, fiduciary advice. #financialplanning #financialempowerment #financialadvisors #financialtips https://lnkd.in/gTfxwwK9

There are plenty of flavors when it comes to hiring a financial advisor. Here are the basics if you’re looking for an advisor: 1. It’s okay to ask how your advisor is compensated. In fact, I mention exactly how we get paid depending on the relationship. 2. Many traditional advisors will be paid with an advisory fee - this is a flat-dollar or percentage fee. A flat-dollar means you will pay a defined amount. A percentage means they will charge you based on the size of the account. These are “fee-only” examples. 3. Other advisors will be paid on product sales. This could be a life insurance policy, annuity, mutual fund, or other products. Many times you won’t see the fee, as the insurance company pays the advisor a commision for selling their product. But as you can imagine, this is where conflicts of interest arise since certain companies may offer more ‘lucrative’ solutions for the advisor. 4. Some advisors will be paid through a mixture of means like an advisory fee and commissions. This is a fee-based advisor. There isn’t necessarily a ‘wrong’ or ‘right’ way for an advisor to be compensated. In fact, we advisors bicker amongst each other about who has the right compensation method. Technically? There is no ‘right or ‘wrong’ way. There’s only the way that 🫵you🫵 feel comfortable working with them. ************ So the question of the day is, “Do you know how your advisor is paid?

Are you ready to take the next step on the property ladder? Understanding key financial strategies and planning ahead can make all the difference. Whether it’s upgrading your home or investing in new property, we’re here to help you navigate each stage with confidence. Let Eisner Gohn help you as you secure your next move. #PropertyLadder #EisnerGohn #LifeAssuranceBeginsHere #LifeAssurance

Dreaming of financial security for yourself and your loved ones? A well-rounded financial plan goes beyond just your savings account. Here's how life insurance and real estate investments can work together: ✔ Life Insurance: Provides a financial safety net for your family in case of the unexpected. ✔ Real Estate Investments: Offers long-term growth potential through potential rent income and appreciation. Together, they create a solid foundation for your financial future. Thinking about how to integrate them into your plan? We can help! Contact a financial advisor at SDG Business Consulting and Financial Services today to discuss your options and build a plan that works for you.

Generational Wealth Planning can help you ensure that your assets and investments are passed down to your loved ones. We can put together a plan to protect your hard-earned assets, and to ensure your family will reap the full benefits, when the time comes. Here are a few things to add to your generational wealth planning checklist: ✅ life insurance ✅ list all your assets ✅ plan for incapacity ✅ end of life planning ✅ protect your business ✅ communicate your plan ✅ update your plan regularly ✅ educate future generations ✅ legal plan for minor children ✅ properly set up the transfer of assets ✅ properly store your documents ✅ plan for future health needs and long-term care It’s never too early to start planning. If you’re interested in starting or updating your plan, visit the link in our bio to learn more about how we can help. Related Topics: estate planning asset planning power of attorney wills living trust wealth management asset management legal services #generationalwealth #wealthmanagement #buildwealth #estateplanning #wealthplanning #poa #elderly #estateplanning #eldercare #assets #californiacoast #attorney #strategicplanning

You can never be too sure when it comes to your retirement accounts or life insurance. Let's work together to help ensure that your financial future is set.

You can never be too sure when it comes to your retirement accounts or life insurance. Let's work together to help ensure that your financial future is set.