MY TWO CENT$ BLOG

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Why Fee-Only?

Written by Andrew Sloan.

When I founded Bluegrass Financial Planning, I had to choose the best way to structure the firm to provide objective, unbiased advice to my clients. I wanted the firm to be independent and definitely not receive commissions from my recommendations to eliminate one of the main conflicts of interests that the majority of financial advisors have today.

I chose the "Fee-Only" structure, which means I do not sell financial products or receive commissions. Instead, my clients pay me based on a fair price for the time I spend helping them. The advice I provide is totally independent from the financial products recommended which gives my clients the peace of mind that they are receiving impartial advice and not being "sold" a high commission fund or annuity. You would think this type of structure would be the norm, but actually only a small percentage of firms are structured in this manner. Consumers are frequently confused how advisors are compensated in today's marketplace due to the lack of clarity between Fee-Only and Fee-Based compensation. Although the title of Financial Advisor or Financial Planner may be commonly used, there is considerable difference in how each individual advisor is compensated with the Fee-Only vs. Fee-Based models.

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Welcome!

Written by Andrew Sloan.

Hello and welcome to My Two Cent$ Blog. This blog will serve as another way for us to share information that is current and relevant within the world of personal finance. Our hope is that you will use this as an objective source of information to help you make better financial decisions without the worry of someone trying to sell you a product.

Since our work requires a lot of research and continuing education, a secondary role of this blog will be to share with you links to articles and commentaries that we find to be particularly well-written and may be relevant to your financial life. We strongly believe that the best investment one can make is in life-long learning, so we hope to provide some tips and refer you to other sources that will empower you to make better decisions to improve the quality of your life.

Please feel free to leave a comment or ask a question which we may use as a future blog topic.