Hammond Fee-Based Financial Planner

Setting financial goals and creating a financial strategy is an important part of preparing for the future. At Harvest Wealth Partners our Hammond fee-based financial planner can meet with you to discuss your financial goals and create a strategy that aligns with your plan. To learn more about our financial planners and our fee structures, please reach out to our team directly by phone or online. 

What Is a Fee-Based Financial Planner?

If you choose to work with a financial planner, it’s important to understand fee structures before you get started. There are two primary fee structures that financial planners employ: fee-based and fee-only. 

• Fee-based financial planner. A fee-based financial planner is a financial planner who is paid by fees, such as flat fees or fees that are based on a percentage of a client’s portfolio, but who is also paid by other sources. For example, the financial planner may collect a commission on the financial products that a client purchases. Fee-based financial planners may be fiduciaries, but are not necessarily fiduciaries; fee-based financial planners, such as brokers and dealers, are only required to sell products that are suitable for their clients. 
• Fee-only financial planner. A fee-only financial planner is a financial planner who is paid directly by their clients through fees, and these fees are the only source of a planner’s income; they do not collect additional sources of compensation. Fee-only financial planners are fiduciaries, which means they have a professional ethical and legal obligation to put a client’s best interests first. 

What to Consider When Choosing a Financial Planner

When choosing a financial planner, there are many things to consider, including but not limited to their fee structure. Things to ask about when meeting with a financial planner for the first time include:

• Fee structure. It’s important to ask the financial planner the specifics of their fee structures. This is an important part of understanding your overall financial picture. 
• Experience. While fee structure is important and something you certainly want to understand, you’ll also want to learn about the financial professional’s experience. 
• Credentials. Different financial professionals have different credentials based on specific education, training, and experience. For example, CERTIFIED FINANCIAL PLANNERS ™ must meet certain education and experience requirements to earn that designation, and are fiduciaries. 
• Your goals. Finally, it’s important to think about your financial goals and the reason for which you’re seeking the services of a financial planning professional. Different professionals may have more experience or training in a certain element of financial planning, such as investment services. 

Call Our Hammond Fee-Based Financial Planner Today

At Harvest Wealth Partners our Hammond fee-based financial planner can answer your questions about financial planning services and work with you to create a financial plan in pursuit of your financial goals. To learn more about our services and our fee structure, please reach out to us by phone or online today. Our professionals are here to help you pursue your financial goals. We offer initial consultations at no cost.