Fee-only Financial Advisor

A Fee-only Financial Advisor is committed to working in the best interest of his/her clients (see Fiduciary).  To that end, a Fee-only Advisor avoids conflicts of interest by refusing "kickbacks" on the investments, products, or services that he/she recommends.

My Take

Operating on a fee-only basis means that Advisors do not accept sales commissions, referral fees, or other type of compensation that leads to conflicts of interest.  Refusing “kickbacks” allows Advisors to remain objective regarding their investment selections and to stay focused on your best interests.