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Subject:  Re: Fee only fiduciary advisor ? Date:  7/21/2019  6:13 PM
Author:  JAFO31 Number:  94584 of 95772

aj485: "'Fee only' just means that they do not collect commissions on the products that they have you purchase."

That has never been my understanding.

Though NAPFA seems to agree wit you.

"We primarily charge a percentage of assets under management because of our emphasis on offering comprehensive wealth management. But fee-only financial planning includes other methods of charging clients such as a flat retainer, an hourly rate or a charge specific to the task at hand.

But it is not uniformly accepted.

"There has been some debate as to how "fee-only" compensation should be defined – mainly, whether it should include the second group, those who charge based on AUM."

Regards, JAFO
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