No. of Recommendations: 1
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.

https://www.forbes.com/sites/davidmarotta/2012/06/11/fee-onl...

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."

https://www.investopedia.com/articles/investing/102014/feeon...

Regards, JAFO
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.