This 2 minute video will show you what’s different about a Fee-Only Financial Advisor.
Fee-Only Financial Advisor
Highlights
- Fee-Only means that the Financial Advisor gets paid a fee for financial advice and only from the client. We never earn a commission or get paid a referral fee from anyone else.
- Services may include financial advice, a written financial plan, or management of assets
- Transparent Fees means you will know up-front what your fees will be. Our publicly posted fee schedule here: Fee Schedule
- A Fee-Only Financial Advisor is always a fiduciary, acting in your best interest before their own
- Not tied to a broker/dealer or corporate sales quota when making investment recommendations
- The National Association of Personal Financial Advisors (NAPFA) maintains the highest level of fiduciary standard
- Fee-Only Financial Advisors can sign the Fiduciary Oath
The only true objective advice is from a Fee-Only Financial Advisor!
Your Fee-Only Financial Advisor
You may read about Mike Kastler, MSF and his credentials, published materials, and his back-story on why he became a financial advisor here: About Mike Kastler. You will find someone who is dedicated to being a true fiduciary 100% of the time; who will sign a fiduciary oath for each and every client, and someone who is passionate about serving clients!
You may also view Mike’s webpage on the Fee-Only Network at: Fee-Only network
A key article to read before you choose a Financial Advisor is on how Financial Advisors get compensated. It helps to understand the motives and biases of the person you are hiring! Please read this article here: Financial Advisor Compensation
National Association of Personal Financial Advisors
NAPFA establishes the definition for fee-only and fiduciary financial planning
NAPFA Fiduciary Oath
The advisor shall exercise his/her best efforts to act in good faith and in the best interests of the client. The advisor shall provide written disclosure to the client prior to the engagement of the advisor, and thereafter throughout the term of the engagement, of any conflicts of interest, which will or reasonably may compromise the impartiality or independence of the advisor. The advisor, or any party in which the advisor has a financial interest, does not receive any compensation or other remuneration that is contingent on any client’s purchase or sale of a financial product. The advisor does not receive a fee or other compensation from another party based on the referral of a client or the client’s business.
Following the NAPFA Fiduciary Oath means I shall:
- Always act in good faith and with candor
- Be proactive in disclosing any conflicts of interest that may impact a client
- Not accept any referral fees or compensation contingent upon the purchase or sale of a financial product
Code of Ethics
Objectivity: NAPFA members strive to be as unbiased as possible in providing advice to clients, and NAPFA members practice on a Fee-Only basis.
Confidentiality: NAPFA members shall keep all client data private, unless authorization is received from the client to share it. NAPFA members shall treat all documents with care and take care when disposing of them. Relations with clients shall be kept private.
Competence: NAPFA members shall strive to maintain a high level of knowledge and ability. Members shall attain continuing education at least at the minimum level required by NAPFA. Members shall not provide advice in areas where they are not capable.
Fairness & Suitability: Dealings and recommendation with clients will always be in the client’s best interests. NAPFA members put their clients first.
Integrity & Honesty: NAPFA members will endeavor to always take the high road and to be ever mindful of the potential for misunderstanding that can accrue in normal human interactions. NAPFA members will be diligent to keep actions and reactions so far aboveboard that a thinking client or other professional would not doubt intentions. In all actions, NAPFA members should be mindful that in addition to serving our clients, we are about the business of building a profession, and our actions should reflect this.
Regulatory Compliance: NAPFA members will strive to maintain conformity with legal regulations.
Full Disclosure: NAPFA members shall fully describe method of compensation and potential conflicts of interest to clients and also specify the total cost of investments.
Professionalism: NAPFA members shall conduct themselves in a way that would be a credit to NAPFA at all times. NAPFA membership involves integrity, honest treatment of clients, and treating people with respect.
