For money we place on our wealth management platform, we are fee-based and charge a percentage of assets (for example, 1% of assets). We make no commissions on those investments. We may recommend products that pay a commission to us or someone else. We disclose all of our compensation before you purchase anything so you can determine the value.
As a side note: “Commission” has become a bad word in the financial planning industry, but you should not be afraid of it. We only suggest these products for you because we believe they are in your best interests, our vendors won’t provide them without paying commission (we’ve asked) and we believe it would border on irresponsible to not recommend commissionable products simply because of their commissionable nature.
Case in point: We will likely have a conversation with you about disability insurance, long-term care insurance or life insurance. Those are commissionable products. Perhaps counterintuitively, they save you money. When you work with us, we will explain it to you so that you understand what you’re buying and what you’re paying.