Members of the National Association of Personal Financial Advisors (NAPFA) are held to a fiduciary standard of care. FinancialFamilies is proud to uphold this standard of care for the benefit of client families.
Most financial advisors accept compensation and, therefore, influence from financial institutions, including Wall Street firms, insurance companies and banks. This approach is commonly referred to as fee-based. Conversely, The National Association of Personal Financial Advisors (NAPFA) is an exclusive organization of fee-only financial advisors. As a fee-only NAPFA member, FinancialFamilies does not accept compensation from financial institutions and is, instead, committed to transparent pricing that is better aligned with client interests and fiduciary duty.
Fee-only financial advisors come in different flavors. Some charge based on assets under management, others bill an hourly rate and FinancialFamilies uses a flat fee retainer.
The flat fee retainer is well-suited for a continuous service model, free from annoying and counterproductive hourly fees, and the conflicts of interest that come with assets under management (AUM) fees. See the Frequently Asked Questions for more information.