Unlike many sources of financial planning guidance, we do not charge a fee based on your assets or a commission for purchasing investments or insurance. We will help you set up investments and find the insurance that you need. For all our help, we simply charge for our time.
Why pay for financial advice when you can get it on the internet for free
(she’s thinking about the question)
Many investment firms have websites offering free advice on managing your finances. However, nothing on the internet is truly free. The advice may direct you to investments from which the firm receives a commission or the website may be a lead generation site.
What is lead generation?
Awhile back, I did a post on how a website that provides “free” use of a gamified retirement calculator. Using the calculator was fun and free. However, when you delved deeper, reading the company’s ADV disclosure, you learned that the website may receive referral fees from vendors for referring users to financial products, such as lenders for a user who needs to refinance her mortgage or Schwab, Fidelity or TD Ameritrade for users who want to rollover a 401(k). In other words, the site generates leads for which it gets paid. That hardly sounds free!
When to pay
If free is not the answer, that means you pay for advice. That can be good, because when you are the sole source of compensation, then planner has no hidden agenda – she serves your needs only.
I know finances are not fun and planning sounds like bad homework, so paying only makes it worse. At the same time, I see how spending the time to plan can make peoples lives so much better.
I hope you contact me and let me know what you think.