In general Advice-Only financial advisors offer planning services in all subject areas covered by the CFP® principal knowledge topics. I’m listing some of them here: Cashflow and Debt Education Planning Insurance Planning Investment Planning Tax Planning Retirement Savings and Income Planning Estate Planning Because Advice-Only financial advisors don’t sell any product, if they think you […]
Advice-Only financial advisors help you construct a diversified portfolio that mitigates bear market losses but they don’t predict when the markets will go down.
Advice-Only financial advisors aren’t stock pickers.
Because Advice-Only financial advisors only sell their advice, they typically don’t require any minimum assets or minimum income. Because they don’t charge a percentage of your assets, how much assets you have is irrelevant. Financial planning for someone with $5 million in assets and multiple types of accounts may cost more than planning for someone […]
Some do, partly based on their own stage in life and partly driven by their clients and client referrals. Some Advice-Only financial advisors work more with early career professionals, divorced women, near retirees, state government employees, teachers, artists, athletes, … However, it’s not necessarily true that working with those demographics requires very specialized knowledge or […]
Once you get the advice from your Advice-Only financial advisor, implementing the advice is easy. In my Advice-Only manifesto Advice-Only: The Best Model For Financial Advice People Need And Want, I used an analogy of getting the diagnosis and prescription from your doctor and taking the pills yourself. It’s exactly like that, only easier, because […]
Rebalancing means selling some investments and buying some other investments in order to return your asset allocation to the desired percentages. Tax loss harvesting means selling some investments that lost value in order to realize a capital loss and use the loss to offset realized capital gains and income. Tax loss harvesting only applies to […]
When you know your financial advisor doesn’t have anything to gain from recommending one way or another, you can be confident the advisor is on your side.