Fee Only Financial Planner The Boy Scout In The Financial Jungle
A fee only financial planner receives remuneration solely from an individual engaging his or her services. Other payments in the form of reimbursement from additional sources as well as commissions are frowned upon in the strictest practice of this trade. As such, the numbers getting on board this bandwagon are understandably few as job attraction in terms of easy and great monetary gain paints a rather uninviting picture. This is not to say remuneration is any lesser than those who supposedly are privy to all income sources. Although channels seem rather constrictive, the fee charged varies from one client to the other, one planner to the other. The amount may be calculated based on a percentage of assets under the planner’s purview. In other cases, the planner charges a flat rate on an annual basis. Some may offer hourly rates for c Mis Sold PPI lients wishing to make use of their services for a short term or testing waters before plunging headlong into the financial tide. One wishing to embark on such a career choice must, first and foremost, put his or her client’s financial interest ahead of personal agendas. Needless to say, many claim to be more than what they really are bringing to the table. A glib presenter is no different from the Pied Piper of Hamelin, stringing along its town residents and rodents to destruction. To ensure one does not suffer the same fate, it is advisable for the credentials of the supposed professional. Depending on the region, the true professionals are registered to a handful of recognized associations who monitor and manage the pool of creditable resources. Ideally, a fee only financial planner is to be a master of all trades, financial that is.
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