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Become an educated buyer of financial planning services

Couple looking at the website of Sandi Miller, an Edmonton based Advice Only financial planner who helps clients with estate planning, Wills, taxes, insurance and investment strategies.Do you know how the cost of advice-only financial planning compares with the fees collected by a fee-based financial planner?  Get the answer by clicking on the statement that you think is correct:

Advice-only costs more than fee-based

Incorrect.

Advice-only costs the same as fee-based

Incorrect.

Advice-only costs less than fee-based

Correct!  Advice-only costs less; sometimes, far less. To top that off, an Advice-Only financial advisor offers unbiased investment strategy recommendations without receiving a commission. A Commission-based advisor, however, is almost always biased towards a specific product line because commission is earned on any sales.

How much are you paying your financial planner? 

Let's assume you have just made the decision to invest $100,000 with a financial advisor. 

You assume most financial advisors are pretty much the same and are not sure of what you are paying in terms of fees.   You may even assume that you are paying no fees.   Except the Financial Advisor you just hired never mentioned that he charges a 5% up-front fee.   That means your $100,000 investment just became a $95,000 investment.

"Some financial planners take advantage of a client's lack of knowledge in investing or reluctance to ask questions," explains Sandi.   "There is no transparency about fees or disclosure that the financial planner has a bias toward a specific product offering."

If you're unsure about the fees you're currently paying to your financial planner and would like a second opinion on your financial plan, contact Sandi today by phone at (780) 467-6647, or online.

For more information, please contact us online or call: 780-467-6647

Edmonton advice only financial and estate planner

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