Flat Fee-Only Financial Planning:
Transparent, Conflict-Free Advice
At Full Bloom Financial, we believe in providing clear, unbiased financial guidance. As a flat fee-only RIA (Registered Investment Advisory), we're committed to serving your best interest without the conflicts often associated with commission-based or AUM (Assets Under Management) models.
The Benefits of Working with a Flat Fee-Only Financial Advisor
- Transparency: Our flat fee structure eliminates hidden costs and surprises.
- Conflict-Free Advice: We don't earn commissions from selling financial products, ensuring our recommendations are solely in your best interest.
- Fiduciary Responsibility: As a fee-only fiduciary, Michelle Brow is legally and ethically bound to put your interests first - at all times.
- Cost-Effective for Larger Portfolios: Unlike the Assets Under Management (AUM) model, our fees don't increase as your wealth grows.
Comprehensive Service: Our flat fee covers both financial planning and investment management, providing holistic financial guidance.
Why Choose Flat Fees Over Traditional Models?
In contrast, “fee-based” financial advisors may charge both fees and earn commissions, potentially creating conflicts of interest. When you hire a fee-only planner, you're ensuring that your advisor gets paid solely for their expertise and the value they provide, not for selling particular financial products. This transparency in fee structure allows clients to compare financial services more easily and find a fee-only financial advisor whose costs and services align with their needs.
Traditional financial advisory models often involve inherent conflicts of interest:
- Commission-Based: Advisors may recommend products that pay higher commissions, not necessarily what's best for you.
- Assets Under Management (AUM): Fees based on a percentage of your assets can lead to higher costs as your wealth increases and pressure to maintain or increase your portfolio balance in order to increase the Advisor’s income.
- Fee-Based: While it sounds similar to fee-only, fee-based advisors can still earn commissions, creating potential conflicts.
Our flat fee structure aligns our interests with yours, focusing on growing your wealth, not our income.
What You Get with Full Bloom Financial
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Comprehensive Financial Planning: We'll cover all facets of your life including:
- Cash flow management
- Retirement and investment strategies, aligned with biblically responsible investing principles
- Insurance review
- Tax-efficient strategies
- Estate planning considerations
- Social Security optimization
- Medicare planning
- Investment Management: Our strategies are tailored to your goals, risk tolerance and values.
- Regular Check-Ins: Two comprehensive Progress Meetings annually, plus additional meetings and support as needed.
- Continuous Support: We're here to guide you through life's financial decisions.
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Flexibility:
- Flexibility in payments, allowing you to pay monthly, quarterly or annually.
- No long-term contracts - you can leave with 30 days' notice if you're not satisfied.
- 24/7 Access: View your Financial Plan anytime and run your own scenarios.
Understanding Our Fee Structure
We offer a comprehensive flat fee model that covers all of our services and all aspects of your financial life:•
- Single: $1,000/quarter or $334/month
- Married: $1,500/quarter or $500/month
- Business Owner: $2,000/quarter or $667/month
- Initial Comprehensive Financial Plan
- Ongoing Financial Planning
- Investment Management
Our Commitment as a Fiduciary
As a Registered Investment Advisor, a Fiduciary and a Chartered Financial Consultant (ChFC®) Michelle Brow adheres to the highest ethical standards. She’s taken a Fiduciary oath to always act in your best interest.Finding the Right Fee-Only Financial Planner
When comparing financial advisors, look for:
- Chartered Financial Consultant (ChFC®) or Certified Financial Planner™ (CFP®) designation
- Fee-only compensation structure
- Fiduciary commitment
- Experience in your specific financial needs
Take the Next Step Towards Financial Independence
Ready to experience the benefits of working with a flat fee-only financial advisor? Schedule a consultation with Full Bloom Financial today. Let us help you achieve your financial goals with transparent, conflict-free advice.
Remember, investing in a fee-only financial planner is an investment in your financial future. Choose Full Bloom Financial for a partnership based on trust, transparency, and a commitment to your success.
Ready to experience the benefits of working with a flat fee-only financial advisor? Schedule a consultation with Full Bloom Financial today. Let us help you achieve your financial goals with transparent, conflict-free advice.
Remember, investing in a fee-only financial planner is an investment in your financial future. Choose Full Bloom Financial for a partnership based on trust, transparency, and a commitment to your success.
Frequently Asked Questions
What is a fee-only fiduciary?
A fee-only fiduciary is a financial advisor who is legally and ethically bound to act in their clients' best interests. Unlike fee-based advisors, fee-only advisors do not receive commissions for selling financial products, ensuring their advice is more unbiased and focused on what's best for you. However, it's important to note that even fee-only advisors can encounter conflicts of interest under an AUM (Assets Under Management) model; such as when a client wishes to reduce their portfolio balance by paying off a mortgage early or making large gifts to loved ones, which could decrease the advisor's compensation if it is based on the size of managed assets. In such cases, a true fiduciary should still prioritize the client's wishes and financial goals above their own financial interests.
How does a fee-only planner get paid?
A fee-only planner is compensated directly by their clients through fees for their services. This can be in the form of hourly rates, flat fees for specific services, or a percentage of assets under management (AUM). They do not receive commissions or referral fees from financial product sales.
What's the difference between fee-only and fee-based advisors?
Fee-only advisors are paid solely by their clients and do not earn commissions from product sales. Fee-based advisors, on the other hand, may earn both fees from clients and commissions from selling financial products. This distinction is crucial as it can affect the advice given and potential conflicts of interest.
How can I find a fee-only financial advisor in my area?
You can use a free financial advisor matching tool to find fee-only advisors who serve your area. Always verify their fee structure and ask if they adhere to the fiduciary standard.
What services are included in a financial plan?
A comprehensive financial plan typically includes analysis and recommendations for budgeting, savings, investments, retirement planning, insurance needs, tax strategies, and estate planning. It should be tailored to your specific financial situation and goals as a Christian woman.
How often should I update my financial plan?
Your Financial Plan should be reviewed and updated at least annually or whenever significant life changes occur; such as marriage, birth of a child, career change, divorce, becoming a widow, opening or selling your business, or approaching retirement. Full Bloom Financial does comprehensive Progress Meetings with clients twice a year. Regular Progress Meetings ensure your Financial Plan remains aligned with your evolving financial goals and circumstances.
What is fee-only wealth management?
Fee-only wealth management is a comprehensive approach to managing your finances where the advisor is compensated solely through fees paid by the client. This typically includes ongoing investment management, financial planning, and regular consultations to help you achieve your long-term financial goals.
How do fee-only advisors compare financial products?
Fee-only advisors compare financial products based on their merits and suitability for your specific situation, without bias from commissions. They consider factors such as performance, risk, fees, and how well the product aligns with your financial goals and values as a Christian woman.
What is the fiduciary standard, and why is it important?
The fiduciary standard requires financial advisors to put their clients' interests first. This is important because it ensures that the advice you receive is in your best interest, not influenced by potential commissions or other conflicts of interest.
How are advisory fees typically structured?
Advisory fees can be structured in several ways. Common approaches include a percentage of assets under management, hourly rates, or flat fees for specific services. Some advisors may use a combination of these methods. It's important to understand exactly how your advisor's fees are calculated and what services they cover.
Learn More About Financial Health
At Full Bloom Financial, we're dedicated to guiding Christian women through their financial futures.