The Future of Financial Planning: A Conversation with Julia Chung

[@paulb9156]

Excellent information. Thanks for posting. In searching the internet (I’m in Alberta) for “advice only advisors”, the term “fee-only advisor” comes up a lot and I don’t see advice-only very much. Are these supposed to be the same thing?

[@SteadyhandInvestments]

Thank you for your question. While the term “fee-only” and “advice-only” financial planners are often used interchangeably, we think there’s an important distinction. We have personally worked with a large network of financial planners in Canada to land on the term “advice only”. “Advice-only” means the planner does NOT sell any financial products or receive any referral fees from product companies (i.e. for investments or insurance). Advice-only planners charge a fee for their advice and service, and it could be one-time or an ongoing annual/monthly fee. Steadyhand maintains a directory of advice only financial planners which can be found here: www.steadyhand.com/education/advice-only-planners/

[@thecount1001]

"let's not forget, these are for profit companies, with profit motivations" kinda like Steadyhand and Julia Chung right?