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 need more/better insurance (auto & home, life, disability, long-term care) they will refer you to an agent who sells such policies. They don’t get a kickback from such referrals. By resisting the temptation of earning a commission they maintain their objectiveness. You can trust when they recommend that you buy insurance it’s because they think you need it, not because they want to make money from selling a policy to you.
The same is true with estate planning. Advice-Only financial advisors typically aren’t attorneys and they don’t prepare legal documents for estate planning. They may refer you to an attorney for will and trust, only because they think you need it.
Some Advice-Only financial advisors prepare taxes, either as an integral part of their service or as a separate practice. Most don’t, and they may refer you to other professionals for tax preparation.
Please let me know your specific requirements and situation in the search and screening request form. I will try to find advisors that best match your needs.