The last couple of decades have seen a decided shift in the way investors invest, largely due to the accessibility of the Internet. Although investors like the idea of being independent in their financial strategies, their lack of expertise puts their overall portfolios at risk. In seeking to have some control over the direction of their investments while getting the expert consultation needed, investors are finding these 3 benefits in fee-only financial planning.
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Independent Advice Without a Conflict of Interest
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Comprehensive Expertise in Financial Planning
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Transparent Costs
Independent Advice Without a Conflict of Interest
There are many different financial areas where expert advice is helpful in wealth management, planning, and investments. Many investors are simply seeking a financial advisor who can give them independent guidance, without a conflict of interest directing their advice. Independent in this context means: the advisor is not making money with commissions from outside sources, by getting clients to buy into their products.
A fee-only financial advisor is able to give guidance independent of any outside source of income, which means they're free to have your best interest in mind. Whether it's insurance, retirement, education, estate, or any other financial planning scenario – the fee-only financial advisor is solely working for their clients.
Many times this is exactly what investors are looking for when seeking financial advice, although if they're unaware of the difference between commission-based and fee-based advisers, they'll often get financial advice not in their best interest. For instance, an investor could be told to invest in a certain mutual fund which has large front and rear loaded payments, or be a victim of a broker “churning” their investments through excessive trading (because they get paid for each trade).
Independent financial advice with no conflict of interest is accomplished by a fee-only pay structure. For instance, Artifex Financial Group charges an annual fee depending on our clients' objectives, which is the only compensation our advisors receive. This allows our expert advisors to work solely for the interest of each client, depending on their financial objectives.
Comprehensive Expertise in Financial Planning
Because a fee-only financial advisor is working in their clients' best interest solely, their expertise is more comprehensive around financial planning. While the commission-based advisor is many times only expert in one certain area, because that's where their compensation originates. This may work for the savvy investor only interested in one particular area of investment, but for investors needing comprehensive financial guidance, a fee-based adviser is needed.
The financial world is complex and full of dangers for investors, which is why unbiased expertise in this industry is so helpful. Fee-based advisors work for the investor, thus are more helpful in giving financial planning guidance in all areas of the financial planning. For instance, Artifex Financial Group specializes in these areas of financial planning:
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Retirement
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Education
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Insurance
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Estate
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Goal Setting
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Cash Management
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Wealth Management
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Corporate Retirement Plans
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Tax Preparation
Investors will benefit when hiring a fee-only based financial advisor, because they'll get comprehensive expertise and guidance for their financial planning. Commission-based advice is biased to where the compensation originates, narrowing the advisors expertise to that financial source. Fee-only advisors have comprehensive expertise in many financial areas, so they can serve their clients better, because this is where their compensation originates.
Transparent Costs
This benefit significantly brings peace of mind to investors when hiring a financial advisor. In the financial industry there are so many hidden fees, scams, and insincere people looking to make money any way they can. This is why transparent fees are such a refreshing change, for investors looking to find a financial partner to help guide their personal finances and wealth management.
Working with Artifex Financial Group, clients will gain a clear understanding of exactly what fees they'll be paying. This transparency in costs, gives clients the ability to better manage and scale their financial planning and budgets. Commission-based advisers may seem free of charge, but in reality the hidden costs and misdirection of guidance often leads to costly mistakes.
Summary
Investors who need expert comprehensive financial advice to navigate the complex world of finance, should look for a fee-only financial advisor group. This ensures you're getting independent financial planning advice, which is in your best interest. The transparency in costs and holistic expertise within a fee-only financial group, gives clients the unbiased guidance needed to reach the financial goals they desire.
Artifex Financial Group are fee-only financial advisors in the Dayton, Columbus, Cleveland, and Cincinnati areas of Ohio. We have the tools, resources, technology, and highly skilled advisors to assist you in achieving your financial goals. If you're in these areas you're welcome to visit one of our five office locations, and if you're outside of these areas we can use technology to effectively work with you as well. If interested in learning more, please contact us today. We'll even provide you with a no-cost initial consultation to discuss your planning needs.
