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Financial Planning is the development and implementation of a coordinated plan for the achievement of your overall financial objectives. These objectives may include investment management, tax and retirement planning, estate planning and special needs planning such as college funding. When creating your financial plan, we consider the interrelationship of each of these important financial security components, and take a "systems approach" toward achieving your goals. A financial plan is the "road map" for navigating the financial highway of one's life.
We work strictly on a Fee Only basis. True Fee Only planners are Fiduciaries and receive no compensation from any product recommended. We do not represent any product or company; we only represent you, the client. Our compensation comes only from the fees paid by our clients. We NEVER accept commissions, trails, cross-selling fees, referral fee arrangements, kickbacks, surrender fees, sales contests, "educational cruises" and vacations, or "free" gifts.
Because Fee Only planners have no monetary interest in your purchase or investment decision, you do not have to wonder if the recommendations offered are being influenced by commissions or other forms of vendor-paid compensation. Because there are no third-party influences to color the financial and investment recommendations rendered, Fee Only planners can concentrate on providing the highest level of personalized service and offer professional, independent, unbiased advice. And as a registered investment advisory firm, we (unlike broker/dealer reps and insurance salespeople) have a "fiduciary obligation" to our clients, a legal duty to place your financial interests above and beyond our own.
"Fiduciary is the highest legal standard of care. If the most important factor in your choice of an advisor is TRUST, then your decision becomes much easier. A fiduciary standard is the legal right to trust. It's your legal guarantee that the advisor can be trusted to put your interests ahead of his own. That's why advisors who sell products are forbidden by their compliance departments from taking a fiduciary position." (Larry Soukup, co-founder Cambridge Financial Advisors, LLC)
"People would never buy a product or service without knowing the cost. Yet when it comes to financial advice, they do it every day. Do they really believe advice from a commissioned salesperson is free? The only thing more expensive than 'free advice' is advice that's not in your best interest. Ask your advisor to put in writing how much he gets paid for his advice. Then ask him to state in writing that he is acting as a fiduciary and putting your interests first. Finally, ask him to sign the document. Actions speak louder than words." (Bob Schumann, co-founder Cambridge Financial Advisors, LLC)