"Try to use a planner whose self-interest is aligned exlusively with your own ...
Consumer Reports continues to believe that fee-only planners remain your best option."


Don’t I need investments before I need a financial planner?
Absolutely not. Investments only represent about one-sixth of what a comprehensive financial planner does. Planners also advise on risk management and insurance, saving for college, income tax planning, retirement planning, and estate planning. Furthermore, if you don’t get some help in trying to reduce some of your current expenses for things such as income tax and insurance, you may never have enough money to start investing.
Why would I pay Versailles Financial, LLC a fee for financial advice? My previous advisor never charged me anything for their advice.
The old adage “you don't get something for nothing” couldn't ring more true than it does in the financial services industry. Remember this: just because you aren't aware of the fees, doesn't mean you aren't paying them. These fees can come in the form of loads (a fee charged for buying and/or redeeming shares of mutual funds, which can reach up to 8.5%), and mutual fund expenses (expenses incurred by money managers and others, which can amount to an additional 2% per year of shareholder assets). The Securities and Exchange Commission has a very informative article that summarizes these various fees. By hiring Versailles Financial, LLC, you pay us to be completely impartial to the investment vehicle selection process. The only agenda we have in recommending investment vehicles to our clients is that we put our clients interests first, 100% of the time.
Why is hiring a fee-only advisor better than hiring an advisor who accepts commissions?

A financial planner who accepts commissions makes money when his clients transact. The more his clients transact, the more advantageous it is for the advisor, since more commissions will be generated. Consider the following scenario: You currently own XYZ mutual fund, which continues to have good prospects for a future in your portfolio. Your financial planner, who earns commissions, recommends that you sell XYZ mutual fund and buy Pot O’ Gold mutual fund. Pot O’ Gold has entry fees amounting to 5% of your investment amount. Furthermore, since you had a gain in XYZ mutual fund, and you sold all of your holdings in that fund, you now have to pay capital gains tax.

Are you sure that selling XYZ and buying Pot O’ Gold was the right thing to do for you? Maybe it was. But how can you be sure? The truth is, you will probably never know for sure whether the planner was looking out for your best interests or his own. That’s why it is important to hire an impartial advisor to advise you on investments that are in your best interest. Fee-only planners provide this impartiality and avoid all potential conflicts of interest. If you want to make sure that your best interests are always put first, and that the Pot O’ Gold is for you and not for your advisor, ask him if he is a fee-only financial planner before hiring him.

I understand that I pay Versailles Financial, LLC to be impartial, but am I getting good value?
Yes! First of all, our fees are extremely competitive. Additionally, you not only get objective investment advice, but with our comprehensive approach to financial planning you also get advice on matters concerning insurance, college funding, income tax, retirement planning, and estate planning. When was the last time your stockbroker recommended a change to your Will to save your heirs some money? Or the creation of a trust to provide for your loved ones? A fee-only comprehensive financial planner makes recommendations only after taking a global view of your assets in light of various other factors (goals, risk tolerance, and timeline, just to mention a few). Furthermore, all recommendations made are with your best interests in mind.

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