A fee only financial advisor in Chicago works on a fee-only basis. They help clients pay off debts, plan retirement, set and reach financial milestones as well as create budgets. Fee-only advisors usually collect fees from you as a percentage of the assets they manage for you. This means they don’t receive kickbacks, referral fees, commissions, or any hidden compensation, considerably minimizing a conflict of interest between you and your planner.
At The Tranel Financial Group, we’re fee-only local financial planners. Because you only pay us for the services we provide, you can be certain that every recommendation we give is in your best interest. Beyond that, you can rely on our advice as we’re extensively experienced and highly knowledgeable when it comes to financial planning.
Benefits of Hiring a Fee-Only Financial Planner
Typically, fee-only financial planners are the best option if you’re looking for an advisor you can trust. Here’s why:
Fee-only financial planners get paid for their advice and not for picking out a particular financial product. As such, rather than turning their attention to financial products they can sell you, they spend time assessing your present financial health and finding the best ways to help you accomplish your financial goals.
And because your planner isn’t receiving commissions from recommending products, they won’t be biased in their selection. So, they’ll choose products with the greatest returns to secure your financial future. That way, you can invest enough to last you through retirement, enjoy life, and even leave a legacy.
Comprehensive Financial Planning
Even though personal financial advisors who are commission-based also provide holistic planning, fee-only professionals are more likely to offer comprehensive financial planning as this is what they specialize in. When you partner with an advisor who’s not interested in convincing you to buy products so that they can earn a commission, you stand a better chance of getting a plan that covers almost all aspects of your finances, including risk management, expense planning for life, advanced tax planning, and investment planning.
Diverse Payment Options
With a fee-only financial advisor, you have multiple payment options. Some of them only offer their services to clients with a specified minimum amount. Yet others will ask for a retainer or take a percentage of the amount they invest for you. Others charge a flat fee or even by the hour. Additionally, fee-only financial advisors are more willing to negotiate their payment terms, enabling you to use the structure you’re most comfortable with. Remember to compare the costs of different financial planners before hiring one.
Expert Fee-Only Financial Advisors
Financial planning does not only involve investing the right amount and opening good accounts. It also entails balancing your current financial responsibilities with your future plans and interests. As top Chicago financial advisors, we’re experts at providing sound guidance and advice. Our fee only financial advisor in Chicago is focused on offering the finest wealth management services and financial planning insights bound by the fiduciary standard. Contact The Tranel Financial Group to get started: https://thetranelfinancialgroup.com/contact-us/.