I’m not an advisor. I keep up to date a directory of financial advisors who give advice but don’t manage investments (sorry, only in the U.S.).
Financial advisors who operate under the straight and narrow Advice-Only model are the true gems. Most advisors are going after the holy grail of selling you products for commissions or managing your money for a large recurring fee year after year. Many other advisors offer services billed hourly or by project only as a hook for the “full service” investment management. This leaves a tiny percentage of advisors who offer good honest Advice-Only services.
I scoured the Internet for four years for Advice-Only advisors (and I continue to do so today). I found about 100 advisors who meet these Advice-Only criteria:
- The advisor’s firm is a Registered Investment Adviser (RIA) registered with the SEC or at the state level.
- The advisor acts as a fiduciary and puts your interest first.
- The advisor has Certified Financial Planner (CFP®) certification, other professional credential, or equivalent experience.
- The advisor does NOT sell products that pay the advisor a commission (cash-value life insurance, annuities, load funds, individual muni bonds, non-traded REITs, limited partnerships, …).
- The advisor does NOT offer to manage your money for a recurring fee either as a percentage of your asset value or on a monthly or annual retainer. Charging a recurring fee for financial planning is OK.
- The advisor does NOT, for revenue sharing or markup, refer you to someone else who will manage your money for a recurring fee. Recommending unaffiliated financial institutions is OK.
- The advisor strictly offers his or her advice for a fee. The advisor treats you 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.
[If you are reading this as a financial advisor and you meet the Advice-Only criteria, please nominate yourself as a potential candidate.]
These 100 advisors are all over the country. Many of them also work virtually with clients everywhere.
For a payment of $200, you will have full access to this directory for 12 months. I do NOT accept any money from the advisors. My effort to keep this directory up to date is 100% supported by your membership fee.
The directory isn’t a simple list. You can navigate the directory and filter the advisor candidates by region, state, service model, hourly rate, credential, gender, types of clients, and subject topics. See How Do I Narrow Down the List of Advisors? for a preview of how it works.
After you find some candidates, you contact them to schedule an introduction call or meeting and get a quote. If you’re not quite sure after the introduction, you can come back to the directory and find more candidates.
I’m confident someone in the Advice-Only Directory can help you with what you need. If you can’t find someone you like in the Advice-Only Directory, I’ll refund 100% of your membership fee, no questions asked.
A small up-front investment yields tremendous savings compared to working with someone who sells you expensive products or someone who charges a percentage of your assets to manage your money. See How Much Does Advice-Only Cost?
Sign up today!