Frequently Asked Questions
Does Fearless Financial only serve women?
What do you mean by FEARLESS?
Being fearless definitely isn’t being reckless. It’s having the courage to face the difficult stuff in your financial world: debt, estate planning, philanthropy, entrepreneurship, long-desired travel, leaving a legacy, etc. Most of all, being fearless is about achieving your greatest desires in life before you leave this Earth, without being overly worried about financial constraints. It’s about bravely deciding what’s most important to you and then having the courage to go for it with the right financial plan!
What does Advice-Only mean?
Financial advisors generally get paid in one of two ways:
- Commissions (also referred to as sales-related compensation)
Commission-based advisors get paid to sell you a financial product (like an insurance policy, investment product, or annuity). While many high-integrity advisors sell clients products they truly need and want, the commission structure can create an opportunity for misaligned incentives between the client and the advisor. In the wrong hands, that kind of model can quickly become ruthlessly transactional (think coffee is for closers…) That’s not how we roll.
A Fee-Only Advisor is defined by the National Association of Personal Financial Advisors (NAPFA) as compensated solely by the client with neither the advisor nor any related party receiving compensation that is contingent on the purchase or sale of a financial product.
Fees can be calculated in a variety of ways such as annual, hourly, or flat fee. The most typical fee structure is to charge clients a percentage of their Assets Under Management (the AUM Model).
Some advisors are Fee-Based, which actually means they receive both fees AND commissions.
Fearless Financial is part of a small but growing group of Fee-Only advisors who choose to provide Advice-Only. We believe Advice-Only is a great model because it allows us to:
- give thoughtful, holistic, unbiased recommendations regardless of the amount you invest or where you invest it
- meet clients where they are and provide as much or as little guidance as you need
- help you find that sweet spot where you feel empowered to manage your own investments, but also have a trusted advisor on call as an accountability partner, or when life throws you one of its inevitable curveballs