Episode #13 - What the hell is Fee Only?
Personal Finance from the Hill-Top
English - March 03, 2021 12:00 - 1 hour - 85.9 MB - ★★★★★ - 12 ratingsSelf-Improvement Education Business Investing Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
“Fee Only means I only get paid a fee from my clients. I don’t get paid fees from products, from brokerage firms, from banks, from insurance companies… I only get paid by the client and that is the person I’m responsible to.” - Brent Hoskins, CFP®, CKA® of Focal Point Financial Group
“One of the questions you need to ask advisors you’re interviewing is, ‘how do you get paid?’” - Donovan Brooks, CFP®, CKA® of Storyline Financial
In episode 13, we're talking about what the hell is Fee Only?
Brent Hoskins, CFP®, CKA® of Focal Point Financial Group and Donovan Brooks, CFP®, CKA® of Storyline Financial, sit down with Kyle to discuss what it means when an advisor says they’re a “Fee Only advisor”. Do you know how your advisor gets paid? They break down the two basic ways advisors are compensated by their clients, which leads to the three different types of compensation structures (Commission, Fee Based, & Fee Only), which leads further into the various Fee Only models (AUM, Flat Fee, Hourly, and more).
Tune in!
"Do you want to pay for products that you can get for free, or do you want to pay for the advice?" Kyle Hill, CFP®
Resources:
Rochester Brewing and Roasting Co.: Stone Fruit Pale Ale,
What is Fee-Only Financial Planning by NAPFA,
Donovan Walk-up song: Lecrae - Over the Top /Andy Mineo,
Brent Walk-up song: Alphaville - Forever Young
Kyle Walk-up song: Jump Around by House of Pain
Brent Hoskins, CFP®, AWMA®, CRPS®, RICP®, CKA® - Focal Point Financial Group
“Fee Only means I only get paid a fee from my clients. I don’t get paid fees from products, from brokerage firms, from banks, from insurance companies… I only get paid by the client and that is the person I’m responsible to.” - Brent Hoskins, CFP®, CKA® of Focal Point Financial Group
“One of the questions you need to ask advisors you’re interviewing is, ‘how do you get paid?’” - Donovan Brooks, CFP®, CKA® of Storyline Financial
In episode 13, we're talking about what the hell is Fee Only?
Brent Hoskins, CFP®, CKA® of Focal Point Financial Group and Donovan Brooks, CFP®, CKA® of Storyline Financial, sit down with Kyle to discuss what it means when an advisor says they’re a “Fee Only advisor”. Do you know how your advisor gets paid? They break down the two basic ways advisors are compensated by their clients, which leads to the three different types of compensation structures (Commission, Fee Based, & Fee Only), which leads further into the various Fee Only models (AUM, Flat Fee, Hourly, and more).
Tune in!
"Do you want to pay for products that you can get for free, or do you want to pay for the advice?" Kyle Hill, CFP®
Resources:
Rochester Brewing and Roasting Co.: Stone Fruit Pale Ale,
What is Fee-Only Financial Planning by NAPFA,
Donovan Walk-up song: Lecrae - Over the Top /Andy Mineo,
Brent Walk-up song: Alphaville - Forever Young
Kyle Walk-up song: Jump Around by House of Pain
Brent Hoskins, CFP®, AWMA®, CRPS®, RICP®, CKA® - Focal Point Financial Group
Donovan Brooks, CFP®, CKA® - Storyline Financial
KCFAN (Kansas City Financial Advisors Network),
Kyle Hill, CFP® - Hill-Top Financial Planning, LLC
KCFAN (Kansas City Financial Advisors Network),
*This podcast uses sounds from freesound: Dry Transition by Electroviolence , Metal Door Slam Shut by ecfike, and Scream by ngrib