"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."
Fee-Only refers to the way in which Versailles Financial, LLC is compensated for its services. Instead of “selling” expensive investment products that pay high sales commissions, we accept no compensation other than a reasonable fee charged to our clients. We charge this fee to be able to provide unbiased and well-researched advice, which will guide each unique client through life’s many financial challenges.
Perhaps the biggest deception in the investment world today is the way in which many financial advisors lead investors to believe that they are getting “free” investment advice. What they neglect to tell their clients, however, is that the advisor is being paid — quite handsomely in fact — through hefty “hidden” fees that are levied against their individual investor accounts. These fees come in the form of one-time fees as high as 8.5% and annually recurring fees as high as 2% for many commissions-based mutual funds. (Refer to a report on mutual funds by the Securities and Exchange Commission to gain a better understanding of these fees.) Unfortunately, more often than not, many clients are tricked into believing that they are getting something for nothing, but oftentimes are simply being taken advantage of.
At Versailles Financial, LLC, we do things differently. Being a Fee-Only Financial Planning firm, we never accept commissions for the investments we recommend. This allows us to remain unbiased and committed to looking out for the best interests of our clients 100% of the time. Our clients are happy to pay us a reasonable fee to get this unbiased advice, knowing that we are not recommending a mutual fund, or any other investment for that matter, just to secretly fatten our wallets with commissions.
Here is what others have to say about Fee-Only financial planning:
“The most important matter is how the planner is compensated. Hire the planner who . . . has no financial stake in [your] investments.”
“Start with . . . a financial planner [whose] compensation should be from fees alone.”
“Try to use a planner whose self-interest is aligned exclusively with your own . . . Consumer Reports continues to believe that fee-only planners remain your best option”
“And, if you decide to hire someone, go to a fee-only planner who will give you advice for a fee. This way, you avoid commissions and pay up front. It’s been proven over time that this is a better way to protect yourself.”
Have you ever sat down to complete a jigsaw puzzle only to find a few of the pieces missing? You are overcome with frustration as you reach the end and realize that the remaining holes in your puzzle will never be filled. The same can be said for financial decisions that are made without “taking into account” all major financial aspects of a person’s life. Through comprehensive financial planning, we include all the pieces making up your financial puzzle. These include:
By using a proven Financial Planning Process, we are able to ensure that we obtain a full and accurate picture of your finances so that we can recommend the most appropriate strategy and plan of action.