Fees
Let’s talk a little bit about fees.
I am a professional financial advisor and have been providing financial advice for over 20 years. My clients have come to rely on me being that voice of reason, that touchstone, sometimes even the heavy – in their financial relationships. They have come to rely on me staying in business to be there for them.
My family has come to rely on my ability to generate a reasonable income, just as I'm sure your family relies on your financial support.
I have developed what I believe to be a fair and appropriate fee schedule for the advice and service that I provide. The fee is based on the complexity in your financial life. With increased complexity comes increased cost.
I use your net worth as a convenient and straight forward proxy for the amount of complexity in your financial life. Consequently your annual fee is based on your net worth. Net worth includes any asset over which you have control -- this could be investment assets, business assets, real estate, retirement assets etc. If you believe that a certain asset (or assets) should be excluded from your net worth calculation, bring it up: let's talk about why or why not.
I'm a reasonable person and I want you to feel you are being treated fairly -- especially when it comes to the topic of fees!
Next: Fee schedule
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Thomas J Duffy, CFP®, MBA is a NAPFA registered fee-only financial advisor. The National Association of Personal Financial Advisors (NAPFA) is the country’s leading professional association of Fee-Only financial advisors—highly trained professionals who are committed to working in the best interests of those they serve. Since 1983, Americans across the country have looked to NAPFA for access to financial professionals who meet the highest membership standards for professional competency, client-focused financial planning, and Fee-Only compensation.
