At WellAcre Wealth, we pride ourselves on being fee-only financial advisors. The Fee-Only model creates a legal requirement that we are Fiduciaries and put our clients’ interests ahead of our own. It may surprise many to know that this legal requirement is not the norm in the financial industry. Indeed, the Financial Services Industry has heavily resisted legislation requiring Advisors to be Fiduciaries which would require Advisors to put their clients’ interests ahead of the individual Advisor and their firms.

In the mainstream industry Advisors can earn commissions, (even Fee-Based Advisors, see below.) As such, they are acting as Salespeople and held to a lower legal standard where they can legally put their own interests or their firm’s interests ahead of their clients’.

We believe that accepting sales-related commissions leads to an inherent conflict of interest.

With the decline of the traditional Broker model where all Financial Advisors were paid on commission, many Advisors these days call themselves Fee-Based. What's the difference? Unlike Fee-Only Advisors, Fee-Based Advisors can receive both fees from clients for financial planning and managing the clients’ assets as well as commissions from selling the products they recommend such as Annuities, Insurance, Alternative Investments, Mutual Funds or Stocks. Not only does this commission potentially create a conflict of interest, but the Advisor is legally allowed to act as a Salesperson, rather than as your Financial Advocate whilst selling you a product. Sometimes, it can be tricky to know if a Fee-Based Advisor puts your interests first - when providing financial guidance.

The Financial Industry has fought legislation that would require Advisors to put clients’ interests ahead of their own and their firms’. This is partly because most major financial institutions are public companies and therefore are legally required to put their shareholders’ interests ahead of their clients’. Moreover, they are concerned that any legislation requiring them to put their clients’ interests ahead of their own would open them up to multiple lawsuits. Many Fee-Based Advisors call themselves Fiduciaries, and may do their best to act as such, however, they are not legally required to be – especially, when making a sale or acting on behalf of their firm.

At WellAcre Wealth, our Fee-Only financial planners provide you with the highest level of service and expertise. We understand that financial planning is a personal journey, and our Advisors are here to guide you every step of the way. Besides the benefits of working with Fee-Only Advisors, our firm is also dedicated to:

• A Holistic Approach: Comprehensive financial planning that covers all aspects of your financial life, from retirement to investments and beyond.
  
• Long-Term Relationships: Our goal is to build lasting relationships with our clients, offering ongoing support and adjustments to your financial plan as needed.
• Transparent Fees: In the same way that we act in our clients’ best interests, we provide transparent pricing so there are no surprises.

What is a fee-only financial advisor?
A Fee-Only financial Advisor is a professional who is compensated solely by their clients, not by commissions or third-party payments.

How do fee-only advisors ensure unbiased advice?
Fee-only advisors reduce conflicts of interest by not earning commissions from financial products, allowing them to offer impartial guidance tailored to your needs.

Are fee-only advisors fiduciaries?
Yes, Fee-Only Advisors act as fiduciaries, meaning they are legally obligated to act in your best financial interest at all times.