What is a Fee-Only Advisor
Commissions create an inherent conflict of interest between a client and a broker (sales-person).
Fee-only advisors do not charge commissions like brokers do, nor do we share revenue from investment products that we recommend.
We earn our income by charging either an hourly fee or fee based upon assets under management. Informed, independent and objective financial advice is what we are compensated for. At Bluemound Asset Management, we are fiduciaries representing your best interest by ethic and rule - a much higher standard than brokers comply with.
As a Wisconsin Registered Investment Advisor working on a fee-only basis we sit on the same side of the table as you, so that we can objectively and properly cull the vast amounts of information constantly bombarding you today.
Consider these thoughts:
Consumer Reports: "Watch out for sales commissions and conflict of interests. Consumer Reports continues to believe the Fee-Only planners remain your best option."
Newsweek Magazine/Washington Post: Jane Bryant Quinn: "Financial Planners who take commissions have a built-in conflict of interest... even with disclosure, my choice would be a fee-only planner.
AARP: “You can be sure that a fee-only planner won’t try and sell you an investment just to earn a commission.”