Why pay a fee for financial planning?
If you’re promised a financial plan for free, the methodology itself creates more questions than answers. How thorough is your plan if the professionals aren’t being compensated for their time and wisdom? If it isn’t thorough, which elements have been left out and which opportunities were left unexplored? Planning without a fee treats the plan itself as a middle man: an obstacle in the way of a transaction.
In our experience at Phillips Financial, planning fees change the way everyone in the relationship thinks about the relationship. And, how you think about a relationship influences its long-term health and dynamics.
Planning fees signal you and your advisor that it’s time to focus on the plan itself. When an advisory relationship begins with a clear commerce exchange, there’s no smoke and mirrors in play. It sets your clarity as the core objective for the discussions.