Finding a Fee-Only Financial Planner in Lehi, UT
When it comes to getting financial advice, there are many different types of advisors. One type that you might come across is a fee-only financial planner. But what exactly is a fee-only financial planner, and how do they differ from other advisors? In this article, we’ll break it down for you and give you tips on finding a fee-only financial planner in Lehi, UT.
What Is a Fee-Only Financial Planner?
First, let’s talk about what a fee-only financial planner is. Unlike commissioned or fee-based advisors, a fee-only financial planner doesn’t make any money from selling you financial products. Instead, they charge you a fee for their services. This means they help eliminate conflicts of interest when it comes to giving you advice.
But what kind of services do fee-only financial planners provide? They can help you with various financial planning needs, such as creating a budget, saving for retirement, and managing investments. They can also help you with more specific needs, like planning for college expenses or navigating the complexities of Social Security. They generally assist in other areas, such as tax planning and estate planning. Many will coordinate with other professionals, like your estate attorney or CPA, to help achieve your goals.
One of the great things about working with a fee-only financial planner is that they can help you create a comprehensive financial plan that considers all your goals and needs. They can also help you stay on track with your plan and make any adjustments as your life and financial situation change.
How to Find a Fee-Only Financial Planner in Lehi, Utah
So now that you know what a fee-only financial planner is and what they can do for you, you may be wondering how to find one in Lehi, Utah.
One of the easiest ways is to head to a favorite search engine like Google and look up “fee-only financial planner Lehi UT.”
While you’re online, you can also check out FeeOnlyNetwork.com. This site allows you to search for financial planners in Lehi (or anywhere in the U.S.) who are:
Fee-only: Compensated by clients only and earning no commissions for product sales or referrals
Fiduciary: Obligated to always place the interests of clients ahead of their own
Independent: Unaffiliated with banks, brokerage firms, and insurance companies
You can also ask for recommendations from friends, family, and professionals you work with. Family and friends may have similar financial goals and situations, making their recommendations more relevant to your needs. Professionals, such as attorneys or accountants, may have a network of financial planners they have worked with. They can provide a referral based on their experience with the planner’s expertise and professionalism. Such recommendations can provide a level of trust and comfort in knowing that your referral source has had a positive experience with the advisor.
Make sure to check out a potential financial planner’s website for the services they offer and ensure they are fee-only. You might also see if their team members include CERTIFIED FINANCIAL PLANNER™ (CFP®) professionals. These advisors must undergo a rigorous certification process that covers all aspects of financial planning to help achieve your goals. Plus, they’re held to a fiduciary standard and must put your interests first.
Once you have some potential financial planners in mind, it’s a good idea to schedule a complimentary call with them. This brief meeting can give you a feel for their approach to financial planning and help you figure out if they’re a good fit for you.
It’s important to be comfortable with your financial advisor since you’ll be sharing personal financial information with them and relying on their advice to make big financial decisions. So make sure you like them and feel confident in their abilities before moving forward.
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In summary, a fee-only financial planner is an advisor who charges clients a fee for services and does not earn commissions from selling financial products. They generally provide a wide range of financial planning services and can help you create a comprehensive financial plan that considers all your goals and needs.
Working with a fee-only financial planner can be a great way to get unbiased, comprehensive financial advice that can help you achieve your goals and feel more confident about your financial future.
Our fiduciary, fee-only financial firm offers a 15-minute call to discuss your concerns and situation. Schedule a call today.
This material was generated using artificial intelligence (ChatGPT) and edited by Kaleido Inc. from information derived from sources believed to be accurate. This information should not be construed as investment, tax, or legal advice.
Parkshore Wealth Management is a family-owned, independent, fee-only Registered Investment Advisor with offices in Roseville and Folsom, CA, and Lehi and Logan, UT. We partner with financially responsible individuals and families who are eager to take positive steps that will allow them to use their money to build the life they desire. The firm is led by Harold Anderson, CFP®, and Daniel Andersen, CFP®, both members of NAPFA, the country’s leading professional association of fee-only financial advisors.