Why Opt For Fee Only Financial Advice?

If you want to be successful in life, just hard work may not be enough. You’ll also be needing proper advice. This becomes even more important with your finances. Portafina Website

While there are a number of options available, you may want to consider fee only advice for your investments. I’m suggesting a subscription based integrated service which may come with a complete package for handling your investments.

Of all these there are a number of reasons that you should select the first. Fee only advice is best suited for folks that are casual investors or people who make frequent changes to their portfolio. Since you are not tied into any long term contract, you can easily move between and listen to different advisers, as you like. You may also engage the services of multiple fee only providers at the same time.

The chief advantage of fee only financial advice is that you would not have to double check reliability. When you opt for in-house advisory option, the adviser may try to hard sell in such a manner that you would end up having to purchase his products. Ask yourself who is the first client…me or him. It could be much cleaner if you pick a fee only adviser. Since the adviser has no product to sell, he would never have a need to hard sell his own line up of products.

Another advantage of fee only advice is you’ll never see a restricted to a particular line of investment options. The independent advisers who provide fee only financial advice can project your finances into a huge universe of options. Opening this door can widen your over all portfolio and helping you tackle risks inherent in investment. Moreover you’ll be growing your future planning options.

Next benefit of fee only financial advice is that you can get counsel without being tied to a long term contract. This is in direct contrast to subscription based advisory services. In the former you have to pay on a per instance basis which means that when you do not ask for advice, you do not pay for it either. On the other hand in subscription based investment advisory you have to keep on paying regardless you seek the advice or not.

While it lacks the extra features that people think they get for free in the other two cases, when calculated on a net basis, the fee only financial advice turns out to be a far more pocket friendly and portfolio friendly choice for most any investor.

It may look expensive in the short run to pay a fee for advice but consider your bigger picture objectives before you make your final choice. Ask yourself; “Is this action taking me toward my long term objectives or not”? Making my best decisions in a relaxed environment or a no pressure state-of-mind is when I do my best.