Fee-only Financial Advisors: Ever hear of them? Don't let the name fool you, the fee-only designation is changing the Wealth Management industry's business model for the better.
The Fee-only designation means that there are no third party companies affiliated with the financial advisor/company. This means no commissions. Commissions often give an advisor a bias as to what investments to place their clients’ in. This is because the more expensive the investment, the more commission the broker or financial advisor will receive. This causes brokers to place their clients into investments that may not fit their particular needs and can either cost them a lot more, place them in a high risk situation, or both.
HIGHLAND Financial Advisors in Riverdale have taken a fiduciary oath, an oath that comes with the fee-only designation, to place their clients’ interests ahead of their own at all times. Does your financial advisor take this oath? You should find out. They may be charging you fee's that are well above the industry average due to commissions. Your investments may need a second opinion. Highland Financial will review your current investments for free and tell you exactly what that investment’s costing you, it’s performance, and how it matches up with the rest of the industry.
You can email them directly at james@highlandplanning.com or you can visit their website at www.highlandplanning.com