Fee-only advisors are held to a fiduciary standard, which is the highest standard of care–and trust–in either equity or the law. Their responsibility is to serve their clients to the best of their ability. This means that fee-only advisors are required to put their clients’ interests ahead of their own and to openly disclose any conflicts of interests they may have when making investment recommendations to their clients.
A fee-only advisor’s compensation comes directly from the client, not from sales commissions, undisclosed fees, or third-party agreements. As a result, you can be confident that the advice you receive is based entirely on your needs and objectives.