Fee only financial planning (sometimes labeled Fee-For-Service planning) refers to the method by which your financial
planner is compensated for his or her time and advice. Fee only advisors
are compensated only by their clients and do not accept commissions or
compensation from any outside sources. Fee only advisors do not sell any financial products.
Traditionally, financial advisors have been paid a commission from the
companies whose products they sell and/or based on the completion of a transaction. As the advisor is being paid directly by the company
whose products they have sold or based on the volume of sales, the potential for a conflict of interest exists.
Because fee only advisors do not sell financial products, this potential conflict of
interest is eliminated.
We were Canada's first independent, comprehensive fee only advisors...
We adhere to the Mission, Core Values and Vision Statement of
the National Association of Personal Financial Advisors (NAPFA) a Fee-Only association from the
United States. Doug Macdonald is NAPFA's only Canadian based NAPFA-Registered Financial Advisor.
The NAPFA Mission, Core Values and Vision Statement are as follows:
Mission
To promote the public interest by advancing the profession of financial planning based upon all of our core values, thereby improving the quality of clients' lives.
Core Values
Competency: Requiring the highest standards of proficiency in the industry.
Comprehensive: Practicing a holistic approach to financial planning.
Compensation: Using a Fee-Only model that facilitates objective advice.
Client-centered: Committing to a fiduciary relationship that ensures the client's interest is always first.
Full Disclosure: Providing an explanation of fees and potential conflicts of interest.
Vision
The public recognizes that NAPFA advocates the highest standards for personal financial planning and that NAPFA-Registered Financial Advisors are the most trusted advisors of choice.
Please visit the NAPFA (www.napfa.com) website for more information regarding Fee-Only financial advisory services.
