|
April 20, 2024 |
 |
|
Why "Fee-Only"?
Fee-only compensation is changing the way financial advisory services are offered. In a traditional commision-based compensation system, the advisor receives payment from a third-party provider of financial products, such as an insurance company or brokerage firm. Under the fee-only approach, the advisor is paid directly by his or her client . The advisor's fee may be based on an hourly rate, a flat fee, or a percentage of assets being managed by the advisor for the client. Basing compensation on fees promotes objectivity in the client-advisor relationship. Because the advisor is paid by the client, and not by a third party vendor, he or she can remain objective in recommending investments and other financial solutions. The fee-only approach forms a central component of MFN's business philosophy. |
|
Find a MedCentric Financial Network Member Advisor in Your Area
|
