What is Fee Only?

One of the first questions we get asked when we meet is, “what is ‘fee only’ and how does it differ from commission based wealth planning?” Envision Wealth Planning President & Founder, Bob Bolen, explains here the differences between the two, and how those differences impact  the client.

Fee only means that the only payments received by us are those paid directly by you, the client. We provide services, we don’t sell products. Commissions generally come from a product sale, but all we do is provide services. If you’re selling product and getting a commission, you are an advocate for the firm you work for.

We are advocates for you the client. We act as fiduciaries. A fiduciary is a person that has your best interest in mind. We sit on the same side of the table as you. And we look at the array of things you try to accomplish. If there’s a product to be had, then you can buy it, but we’re not going to get any of that money, and that’s the difference at Envision Wealth Planning.

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