— FINANCIAL PLANNING

Why Fee Only Financial Planning?

It can be difficult to know if the advice you receive from financial planners is truly objective and of high quality. The payment structure used by these professionals plays an integral role in providing impartial service, so it’s vital that clients are aware of how their planner earns a living before they make any important decisions.

—WHY?

Why hire a fee-only financial planner?

Despite the trust that many investors place in financial advisors, not all are legally obligated to act solely with their clients’ interests at heart. To increase your assurance of impartial counsel, fee-only planners guarantee an objective analysis and only make recommendations based on sound reasoning.

When it comes to health and wealth, the wrong advice can be costly. That’s why it’s important to choose a doctor or financial planner who has your best interests at heart first – not those of drug companies or other sales organizations. Look to our advisors at Next Gen who have years of experience providing professional assessment and unbiased guidance that you can trust completely before making any major decisions related to your financial pursuits.

LEARN MORE

High Impact Results

250+

SATISFIED CLIENTS

98%

CLIENT SUCCESS

5M+

SATISFIED CLIENTS

Financial Planning
For The Next Generation

How Different Financial Advisors Get Paid

Commission-Based

Commissioned financial advisors typically benefit when they successfully promote different investment and insurance products. The amount of this commission is often related to the product’s type, as well as how much money a customer invests in it. Annuities, life insurance policies, and mutual funds are some popular options sold on a commissioned basis by brokers or agents who must provide advice that meets an appropriate standard for customers’ needs – called “suitability” – with any sales made solely incidental to their guidance.

Advisors are frequently incentivized to sell financial products that may not be in the client’s best interest. Thankfully, this is shifting thanks to greater consumer awareness and regulatory oversight of commissions received by these advisors as well as any potential conflicts of interests they might have.

Fee-Only

Fee-only financial planners provide invaluable advice as they are wholly invested in their clients’ best interests. These professionals benefit exclusively from client fees, guaranteeing objectivity and granting them a fiduciary standard of care that puts the customer’s needs first.

Fee-Based

Fee-based financial advisors are a unique combination of the other two options, providing customized guidance at an often more cost effective rate. Unlike their commissioned counterparts, they may still receive commissions for products like insurance policies and variable annuities without disclosing exactly what those commission amounts entail – making transparency one area to consider when looking into these services.

  • Next Gen helps you produce a financial plan designed specifically for your individual needs and desires is essential in achieving your financial goals. From setting aside money for the short-term to investing for the future, having a tailored plan that takes into account any liabilities you may have, such as debt, can help you make better decisions and more informed decisions when it comes to dealing with and managing your money.
  • Fee only planners fees can vary depending on the number of services being provided and their scope. Working with an hourly rate is a common option, however there are other options available dependent upon specific client needs. An Assets Under Management (“AUM”) fee might be utilized if investment management services are included; this could range from 1% per year to lower percentages when larger accounts come into play. Alternatively, clients may opt for a flat-fee structure as well which generally will remain consistent regardless of account size or portfolio details at hand..
  • Whether you’re a young college graduate just starting their career or a seasoned professional looking to optimize their retirement savings plan, Next Gen leads the industry in finding tailored solutions to suit your specific needs. You’ll find that our fantastic founder is mentioned in “THE 7 BEST SAN DIEGO FINANCIAL ADVISORS (2022 UPDATE!).” Stop worrying about your finances, and start taking back control with Next Gen Financial Planners today!

Frequently Asked Questions

Fee-only financial planning is a type of financial planning in which the planner is paid only by the client, and does not accept commissions from any other sources.

This type of arrangement is seen as more ethical by many people, since it eliminates the potential for conflict of interest that can arise when a planner receives commissions from product sales. It also allows clients to be sure that their planner is working in their best interests, since there is no incentive for the planner to recommend products that generate higher commissions.

There are a few key ways that this financial planning method is different from others. For one, it focuses exclusively on your goals and what you need to do to achieve them. Other methods may take a more general approach and focus on things like budgeting or asset allocation.

This method also takes into account your unique situation and circumstances. Other methods may be more rigid in their recommendations, but this method is customizable to fit your needs. Finally, it’s based on the idea that you should always live below your means. This may be a difficult concept for some people to swallow, but it’s ultimately the key to financial success.

Generally, people should consider using a fee-only planner when they want unbiased advice and aren’t interested in commission-based products. A fee-only planner doesn’t sell investments or insurance products, so their only source of income is through fees paid by clients. This allows them to provide objective advice without any conflicts of interest.

Some people may also find it helpful to use a fee-only planner if they’re not confident about their ability to manage their finances on their own. A good planner can help you develop a plan, track your progress, and make sure you’re on track to meet your financial goals.

A fee-only planner is someone who doesn’t earn commissions from the investment products they sell. This means they have a fiduciary responsibility to put their client’s best interests first, rather than earning more money by selling a particular product.

Some benefits of working with a fee-only planner include: unbiased advice, comprehensive financial planning, avoidance of conflicts of interest, and Ongoing portfolio management and monitoring. So if you’re looking for unbiased advice on your financial situation, it might be worth considering working with a fee-only planner.

GETTING STARTED IS EASY

Want to see if we're right for you?
Take the first step by scheduling an intro meeting

Isn’t it time you got the real financial planning advice you’ve always wanted? The first meeting is on us.
There’s no cost, no sales pressure, and no judgement - just a conversation to see if we’re a good match.