If you are an Advice-Only financial planner/advisor, thank you for operating under this most transparent model for your clients. You should get more business. Please use the form below to let me know about your services. I will consider you when I get a request to search and screen for an Advice-Only financial advisor in your area.
Remember, Advice-Only is Fee-Only plus:
1. You do NOT up-sell on managing your client’s money for a recurring fee either as a percentage of the asset value or on a monthly or annual retainer. Whether it’s an up-sell is in the eyes of the clients. If it’s an additional service on which you earn a profit it’s an up-sell.
2. You do NOT, for a kickback or markup or any other economic benefit, refer your client to someone else who will manage your client’s money for a recurring fee. Recommending unaffiliated financial institutions is OK.
3. You strictly offer your advice for a fee. You treat your client as a competent adult able to follow the advice. Assistance in opening accounts or filling out forms is OK. Accepting prepayment for follow-ups or incidental questions that come up is OK. Offering check-ins and reviews is OK and encouraged.