Fee-only fiduciary advice
What does fee-only fiduciary mean?
A fee-only fiduciary is an advisor who owes clients a legal duty to act in their interest and is paid only by those clients, not through commissions, referral fees or compensation from financial products. Monument Group Wealth Advisors is a fee-only fiduciary firm. Every fee model has trade-offs, and results vary by individual circumstances.
Fiduciary
What fiduciary means
Registered investment advisers owe this duty under federal securities law. It covers the advice they give, and it is a standard of conduct, not a promise about results. Other financial professionals may be held to different standards that apply to certain recommendations, so it is reasonable to ask an advisor whether they act as a fiduciary for all of the advice they give you.
Fee-only
What fee-only means, and how it differs from fee-based and commission pay
Fee-only
The advisor is paid only by the client. There are no commissions, referral fees or compensation from the products the advisor recommends.
Fee-based
The advisor charges the client a fee and may also earn commissions or other compensation from products. The term sounds similar to fee-only, but the pay arrangement is different.
Commission-based
The advisor is paid mainly when a client buys a product, such as an insurance policy or a fund share class that carries a sales charge.
How we are paid
How Monument Group Wealth Advisors is paid
Monument Group Wealth Advisors operates on a fee-only model. The firm does not receive commissions, referral fees or compensation from financial products. Clients pay an advisory fee.
Tax planning and preparation are offered to ongoing clients of Monument Group Wealth Advisors. For the services included and the fee that applies to your situation, read the firm's Form ADV Part 2A and Form CRS, or ask in a first conversation.
Read more about our services, the process we follow with clients and the firm behind them, or review Form ADV Part 2A and Form CRS.
Limits
What fee-only does and does not mean
- Fee-only describes how an advisor is paid. It does not remove every conflict of interest, because any pay arrangement can shape incentives in some way.
- Fee-only does not guarantee a result. Investing involves risk, including the potential loss of principal, and results vary by individual circumstances.
- How an advisor charges (a percentage of assets, a flat fee, an hourly rate or a retainer) changes what you pay and what the advisor is encouraged to do. Each approach has trade-offs, so compare them against the work you need.
- A fee you pay directly is visible to you. Some people find that clearer than compensation built into a product, while others focus on total cost. The right fit depends on your situation.
Before you hire
Questions to ask any advisor
- Are you a fiduciary for all of the advice you give me, and will you confirm that in writing?
- How are you paid, and do you or your firm receive anything from the products you recommend?
- What will I pay in total, and where is that written down?
- Which services are included, and which cost extra or are handled by someone else?
- What conflicts of interest do you have, and how do you manage them?
- Who will I work with day to day, and how do the tax and legal professionals fit in?
Fee-only fiduciary advice sits alongside holistic financial planning, in-house tax work and estate planning coordination. The team page lists the professionals you would work with.
Common questions
Fee-only fiduciary questions
What does it mean for a fiduciary advisor to be fee-only?
It means two separate things that often travel together. Fiduciary describes the standard of care: the advisor must act in the client's interest when giving advice. Fee-only describes the pay: the advisor is compensated only by the client, with no commissions or product compensation. Monument Group Wealth Advisors is a fee-only fiduciary firm.What is a typical fee for a fee-only fiduciary?
Fee-only advisors price their work in different ways, such as a percentage of assets, a flat fee, an hourly rate or a retainer, and amounts vary by firm, by the services provided and by how complex a household is. Because of that, no single figure is typical. Ask any advisor for a written fee schedule. Monument Group's fees are described in its Form ADV Part 2A, and you can ask about them in a first conversation.Is fee-only the same as fee-based?
No. A fee-only advisor is paid only by clients. A fee-based advisor charges client fees and may also earn commissions or other compensation from the products it sells. When you compare advisors, ask how each one is paid in plain terms rather than relying on the label.Does a fee-only fiduciary have no conflicts of interest?
No. Fee-only removes commissions and product compensation, but it does not remove every conflict. For example, how a fee is calculated can influence incentives. Ask any advisor, including us, to explain the conflicts that remain and how they are managed. Results vary by individual circumstances and nothing here is a guarantee.How is Monument Group Wealth Advisors paid?
Monument Group Wealth Advisors operates on a fee-only model. The firm does not receive commissions, referral fees or compensation from financial products. Clients pay an advisory fee. The firm's Form ADV Part 2A describes its services and fees.
This material is general education. It is not personalized advice or a forecast, and it does not recommend any product or strategy. Fee arrangements have trade-offs, and results vary by individual circumstances. The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.
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