International College of Financial Planning

SEPTEMBER 3, 2021

They may charge for their services either on a commission basis or hourly rates. However, our advice is to trust financial planners who either take a flat annual fee or charge per hour for managing your portfolio instead of charging a commission on every stock they buy or sell. How to Compensate Financial Advisors?

Financial Planner 52

Financial Planner Financial Advisor Certified Financial Planner Commission 52

Inside Information

OCTOBER 29, 2023

I said that brokers and sales agents are essentially predators, wolves in sheep’s clothing, where the sheep are fiduciary advisors, and the clothing is, well, you know what it is: ‘fee-based’ and ‘best interest’ (instead of fee-only and fiduciary).

Sales 40

Sales Ethics Fee Only Financial Advice 40

Sara Grillo

JANUARY 9, 2023

Specific examples: Educating financial advisors of all business models (AUM, fee only, commission, etc.) Executing outreach to college students to encourage them to avoid predatory wirehouse and insurance training programs and pursue fee-only paraplanning jobs instead. They would never have approved a 5% AUM fee.

Financial Planning 52

Financial Planning Planning Financial Planner CFP 52

Inside Information

JULY 31, 2022

A lot of us are still angry at the decision to take down compensation data on advisors who were listed on the organization’s website, rather than confront the fact that thousands of brokers and asset-gatherers had slyly listed themselves as ‘fee-only.’

Financial Planner 45

Financial Planner Financial Planning Ethics CFP 45

Sara Grillo

AUGUST 14, 2023

If their sole method of compensation is a product, and/or they are taking commissions, then in reality it is less likely they are embracing all the values that the standard requires. Commissions are opaque. But if they are acting in the capacity of a broker or agent then they are not bound to follow the fiduciary standard. billion.

Financial Advisor 52

Financial Advisor Fiduciary Duty Insurance Financial Advice 52

Inside Information

SEPTEMBER 28, 2021

Then came Reg BI, in 2019, where the Commission decided that adopting a separate rule restricting these terms was ‘unnecessary.’. 202(a)(11)(c) of the Advisers Act,” the petition says, “the Commission can increase investor protection by (re-)asserting a distinction between product sales and stand-alone investment advice.”.

Financial Planner 40

Financial Planner Financial Planning Commission Sales 40

Inside Information

JUNE 28, 2023

This is really none of my business, but I can’t help saying that I hate the new policy at the National Association of Personal Financial Advisors regarding trail commissions. We will have to cheapen the hard, strong language that we’re accustomed to using when we recommend working with a fee-only planner.

Commission 40

Commission Fee Only Clients Financial Advisor 40

WiserAdvisor

MAY 31, 2022

According to the Federal Trade Commission (FTC), in 2021, American consumers lost over $5.8 You can check the company’s financial statement on the Securities Exchange Commission (SEC) EDGAR filing platform. Most often, until someone has been a victim of financial fraud, they fail to recognize the growing intensity of these crimes.

Investing 52

Investing Investments License Accounting 52

Sara Grillo

MAY 10, 2024

My client’s estate planning attorney said they should hire a fee-only advisor to manage their assets, and then they asked me if I charge fees or commissions. As a fiduciary, I charge 1% of your assets, and do not accept commissions.” I’m a Social Security expert.

Clients 52

Clients License Retirement Planning Financial Advisor 52

Inside Information

OCTOBER 30, 2021

The argument with the regulators is that the more they require all advisors (including, of course, wirehouse brokers who call themselves ‘advisors’) to behave as fiduciaries, the more likely investors will be to receive advice in their interests, quality investment counsel, low portfolio expenses and fewer conflicts getting in the way.

CFP 40

CFP Commission Education Investing 40

Inside Information

JANUARY 31, 2022

The obvious next priority to put on the regulatory watch list is sales commissions. I think it’s self-evident that any product that has to pay people to recommend it is probably not competitive on its own merits.

Commission 40

Commission Clients Sales Fee Only 40

Sara Grillo

NOVEMBER 14, 2022

Fee only advisors can now purchase annuities for their clients without having to be licensed agents. Should those with only insurance licenses that allow them to sell annuities and/or life insurance be held to the same “fiduciary standard” as Registered Investment Advisers (RIAs) with the SEC or state regulators?

Insurance 59

Insurance Financial Advisor Retirement License 59

WiserAdvisor

JULY 22, 2022

Some investors may require the services of multiple advisors as they have extensive investment portfolios comprising real estate, art, collectibles, global businesses, etc. The advisors can be differentiated based on the fee structure they use to charge fees such as fee-only, commission-only, hourly-fee, monthly fee, etc.

Financial Advisor 105

Financial Advisor Portfolio Budgeting Investment Advisor 105

Sara Grillo

MAY 8, 2023

So let’s just suppose that I’m Mr. And Mrs. Financial advisor, and let’s just even suppose I’m a fee-only advisor just for the purpose of simplicity, I do not sell insurance, I don’t get compensated for insurance, I can accept commissions if someone needs term life, I refer them to the insurance agent down the street.

Insurance 59

Insurance Clients Financial Advisor Accounting 59

Sara Grillo

SEPTEMBER 26, 2022

I do believe it should be different regulated differently from portfolio management, which is the typical definition of the registered investment advisor, but that it shouldn’t be the CFP Board that is controlling the regulatory environment for financial planners. Securities and Exchange Commission. 2022, August 1). 2013, March).

CFP 59

CFP Financial Advisor Financial Planner Ethics 59