If you’re already familiar with what a fee-only financial planner is, you’ve done your homework. If you aren’t sure of the difference between fee-only and fee-based cost structures, you can find out by reading our article: What is a Fee-Only Financial Planner? / Fee-Only vs Fee-Based Financial Planning. Once you understand the cost structures, you may want to know how you can find a fee-only financial planner.
How to Find a Fee-Only Financial Planner
To find a fee-only financial planner, we recommend you try the following methods.
Ask a Family Member, Friend, or Colleague
A great place to start is to ask someone you trust. Family members, friends, and colleagues may be able to help you find a trustworthy adviser based on their own experiences.
Turn to Trusted Professionals Such as Attorneys and CPAs
You can also ask your trusted attorney or CPA to recommend a financial adviser. You may need to contact the adviser to whom they refer you to inquire about their cost structure, or you can look online to see if they advertise a fee-only structure.
Check Third-Party Websites and Databases
In addition to your own personal network, you can leverage a few online sources that gather and list fee-only financial planners.
- NAPFA.org (The National Association of Personal Financial Advisors)
According to their site, “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.”To search the NAPFA database visit napfa.org
- FPA (The Financial Planning Association)
The FPA also has a database of financial planners that you can search according to location and compensation type. Not all planners are fee-only, but you can easily filter the database to highlight fee-only planners. To search the FPA database visit plannersearch.org
Research and Inquire Specifically About Fee Structure
If you find a financial planner or adviser through another resource, be sure to ask them directly about their cost structure. If you’re determined to work with a fee-only financial planner, we recommend starting with an online database such as NAPFA.org, which makes it easy to limit your search by cost structure.
About Modera Financial Planners
We are proudly a fee-only, independently-owned financial planning firm that acts as a fiduciary for our clients. We have built our organization to put our customers’ interests first, as evidenced by our fee-only fee structure and fiduciary responsibility.
If you’re interested in our services, please contact us. If you would like to learn more about financial planning, wealth management, and finding a financial adviser, please visit other areas of our education section.
Modera Wealth Management., LLC is an SEC registered investment adviser with places of business in Massachusetts, New Jersey, Georgia, North Carolina and Florida. SEC registration does not imply any level of skill or training. Modera may only transact business in those states in which it is registered or qualifies for an exemption or exclusion from registration requirements.
For additional information about Modera, including its registration status, fees and services and/or a copy of our Form ADV Disclosure Brochure, please contact us or refer to the Investment Adviser Public Disclosure web site (www.adviserinfo.sec.gov). A full description of the firm’s business operations and service offerings is contained in our Disclosure Brochure which appears as Part 2A of Form ADV. Please read the Disclosure Brochure carefully before you invest or send money.
This article is limited to the dissemination of general information about Modera’s investment advisory and financial planning services that is not suitable for everyone. Nothing herein should be interpreted or construed as investment advice nor as legal, tax or accounting advice nor as personalized financial planning, tax planning or wealth management advice. For legal, tax and accounting-related matters, we recommend you seek the advice of a qualified attorney or accountant. This article is not a substitute for personalized investment or financial planning from Modera. There is no guarantee that the views and opinions expressed herein will come to pass, and the information herein should not be considered a solicitation to engage in a particular investment or financial planning strategy. The statements and opinions expressed in this article are subject to change without notice based on changes in the law and other conditions.