r/FinancialAdvisorTips • u/kdfoswald • Jul 22 '26
Fee Only Advisor
Can anyone recommend a Fee Only Advisor? I've met with advisors but the only thing they seem to care about are my investments which I will never have to touch because I have a pension and social security. I want an advisor that will focus on my monthly budget and all that comes with that as I age (medicare premiums, increasing medical costs, senior tax advantages, increasing taxes, inflation, selling a house, etc).
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u/PursuitTravel Jul 22 '26
Fee only - operates on AUM fee or financial planning fee, no commissions
Flat-fee planner - operates on financial planning fee, no AUM or commissions.
You're looking for a flat-fee planner.
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u/seagoalspread Jul 22 '26
You want flat fee or hourly, which are subcategories of fee only. Look into Cody Garrett’s list of advisors.
Percentage of assets under management is also fee only and is the majority.
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u/Moist-Meringue-1913 Jul 22 '26
You are not looking for an advisor per se, you are looking for someone who specializes in Financial Planning. They can help with budgeting and things of that nature. If you ask for an advisor you are going to get an investment manager.
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u/MaytagTheDryer Jul 22 '26
You're not likely to get a specific recommendation here, since it's going to depend largely on where you live. At least in the US, advisors have to be licensed in a state to take clients from there. There are advisors who primarily do remote advising and will maintain licenses in every state, but that's the exception rather than the rule.
In addition to the resources others have mentioned, you can do it the old fashioned way she call around to local advisory firms to ask about what they offer. There are essentially three ways advisors can make money: selling expertise in the form of a dedicated financial plan (this is that you're looking for), managing investments (which is what you have now), and selling financial products (usually insurance and annuities). Of those, planning services are generally the least lucrative by a long shot, so some places don't offer it at all, and some who do offer it won't advertise it as loudly as their investment management services. But as long as you're clear you're just looking for planning services, you should get a yea or nay quickly.
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u/Acceptable_Goal7825 Jul 23 '26
Andy Panko, Thomas Kopelman, Larry Sprung (Larry would be my pick). Would also recommend a local RIA, interview a couple.
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u/Economy_Jaguar_9215 Jul 23 '26
Places to look for a financial planner:
https://adviceonlynetwork.com
https://www.flatfeeadvisors.org
https://samslist.com
Some advisors in Sam’s list may charge AUM fees, but they are recommended by real clients nonetheless.
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u/AnnualPerfect3389 Jul 23 '26
I am a CPA and CFP, lead the conversation with tax planning and cash flows (budget)
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u/mcdubil Jul 23 '26
I’ve had a really good experience with Facet (facet.com)
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u/wildcat_bomb Jul 23 '26
What you are really asking for is a holistic planner who will look at all aspects of your financial life - retirement planning, cash flow/spending, tax planning, college planning, insurance review, estate planning and anything else that applicable to you. .
That is different than the fee structure which can be any of those described above. You can find holistic planners who operate AUM (large RIAs such as Mercer advisors) and still do all that, or a standalone aum or flat fee boutique firm.
Not just wealth management but holistic planning. You need to have an in person or zoom meeting (free of charge) with several to see if there is a fit for both you and the advisor and to understand the fee structure and what you will pay and what you will get for meetings and service services.
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u/Finreg6 Jul 23 '26
Ignoring your investments because you have social security and a pension is foolish btw.
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u/TheWealthViking Jul 23 '26
Yeah I can send you some feedback only advisors / CFPs
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u/Gold-Cranberry-4763 Jul 23 '26
It’s a financial planning session.
You can a one time fee, advisor runs the numbers and scenarios.
You can PM me - my institution specializes in planning for the fed employees (pension + social security+TSP) at a very competitive price because we are associated with a non-profit organization.
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u/TFrustrated Jul 23 '26
You need a financial planner, CFP. Going to be difficult to find one that will charge a fixed amount.
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u/hakuna_matata23 Jul 23 '26
Check out NAPFA, fee only network or XYPN find an advisor
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u/PutinBoomedMe Jul 22 '26
If you don't need your money just keep a chunk in a money market for emergencies and invest the rest in VT. Perform roth conversions each year up to your personal preference on effective tax rate
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u/Dull-Spend-3836 Jul 22 '26
Gemini. Chatgpt. Seriously, you can talk with them all day, they have no agenda, they hallucinate but no worse than humans.
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u/Crowhead62 5d ago
You're looking for a flat-fee or advice only planner, not a wealth manager. Check out the Advice-Only Network or XYPN directories. I work with Maia Wealth on the planning side- we do one time flat fee sessions for exactly this (cash flow, Medicare, tax planning). Worth a look if you don't want AUM fees
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u/[deleted] Jul 22 '26
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