Fee-based or "dual registration" advisors are compensated by fees for advice AND commissions on the sale of financial products that may be used to implement their "advice"
Commissioned advisors are paid by the commissions they earn from selling various financial and insurance products
Fee-based and commission advisors are affiliated with a bank, brokerage, or insurance company and the bulk of their compensation is typically generated via commissions on the sale of the products they recommend
“Fee-based" is NOT the same as "fee-only"
While these terms are incorrectly interchanged, there are significant differences in the levels of integrity, quality, and costs to you
Compensation arising from sales commissions could lead advisors to recommend products mandated by their employer and/or products that generate the highest payout for the advisor
These products may not be the best fit for your situation
And while you may not physically write a check for payment, make no mistake, the commissions paid to a financial advisor come out of your pocket in the form of higher expenses and lower returns
Fee-only financial advisors are compensated only by fees
These fees might be hourly, a flat retainer or be based on a percentage of the assets that they manage
One of the major benefits of selecting a fee-only advisor is the freedom from the conflict of interest that is present when a portion of an advisor’s income comes from selling you financial products
As a fiduciary, fee-only advisors have a legal responsibility to act in your best interest and generally provide more comprehensive advice
Etzler Financial Advisors is a fee-only fiduciary
Unlike most advisors, we do not sell financial products, nor do we receive commissions or any other form of compensation
We believe the fee you pay for financial planning and management shouldn't be based on the amount of money you have, but the complexity of your situation, your individual needs, and the value we can provide
Consequently, we generally charge a flat fee for services as opposed to a percentage of assets
What does it cost to work with us?
Because our fees are customized to your personal situation, it would be irresponsible for us to quote a fee without getting to know you better
We offer an initial consultation for this very purpose
Entering into an advisory relationship is an important decision that has significant lifelong implications. For this reason, we offer a no-charge, no-obligation introductory consultation in person, by phone, or online. During the consultation, you will meet with a seasoned Certified Financial Planner™ to discuss what is important to you. If we're in a position to help you and we're a good fit, we'll provide you with a written proposal that outlines what you can expect from our relationship. And because we're fee-only fiduciary advisors, you can be assured that you will receive 1) real advice and planning, never a sales pitch; 2) a prudent process; and 3) a holistic approach to your situation.