What's the difference between a "Financial Advisor" from a large Wall Street firm and a Financial Planner from an Independent, Fee-Only Registered Investment Advisor? A great deal!!! Please read on.

In the financial world today, there are basically two types of advice available to investors: that given by stockbrokers, and that given by Registered Investment Advisors (RIAs). Unfortunately, most investors do not know the difference between these two kinds of advice. In fact, most are not even aware a difference exists. Most advertising is designed to keep you in the dark and blur the differences.

The "Financial Advisor" from a large, Wall Street firm is also a "Registered Representative" of that firm and, as a result, he owes his loyalty to the firm, not the client. Therefore, the Financial Advisor may be selling you the "product du jour." Often, the criteria for investment products these advisors offer to sell you is "suitability", which means that, while they might not be "bad for you," the products are " not necessarily good for you." We've all seen the newspaper headlines showing one major Wall Street firm after another accused of fleecing their own clients with investments that may or may not have been "suitable" for their clients but were definitely not the best investment for them or for you. And then laughing about it over drinks!

A Financial Planner from an Independent, Fee-Only Registered Investment Advisor is the exception in this business. We are solely compensated by the fees paid by our clients and do not receive commissions or compensation from any other source. Thus, we do not sell insurance, annuities or other investment products or accept perks such as golf outings or trips in return for selling you an investment. Since we are independent from all financial services companies and proprietary products, we are able to offer many more investment opportunities to you, none of which are commission driven.

We do it differently at Financial Strategies.  Ongoing services, covering planning, execution, tax preparation and investment supervision are seamlessly provided for one annual fee.

We work for you and with you to craft plans to move you forward in life, not just watch your investment accounts. Your winning the game of life is our goal.

 

We made the decision to be Fee Only ten years ago. Fee only means the only monies we receive are from you and fully disclosed.

Fee Only simply means being a Fiduciary. This is the Oath I signed when I became a NAPFA Registered Financial Planner

FIDUCIARY OATH

National Association of Personal Financial Advisors

The advisor shall exercise his/her best efforts to act in good faith and in the best interests of the client.

The advisor shall provide written disclosure to the client prior to the engagement of the advisor, and thereafter throughout the term of the engagement, of any conflicts of interest, which will or reasonably may compromise the impartiality or independence of the advisor.

The advisor, or any party in which the advisor has a financial interest, does not receive any compensation or other remuneration that is contingent on any client's purchase or sale of a financial product.

The advisor does not receive a fee or other compensation from another party based on the referral of a client or the client's business.

I take this seriously and pledge to keep your best interests foremost in our relationship.

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