Our Fee-Only Compensation Structure means you have no hidden costs
Because we believe in mutual trust and understanding, Payne Wealth Partners and Keystone Financial Consulting have a transparent fee-only compensation structure. It is based on percentages of your net worth and/or the assets under advisement. This is how it works:
- We fully disclose all costs, right up front.
- We charge clients directly for our advisery services.
- Our client fees are the only compensation we receive for the advisery services that we provide to you. We do not sell financial products. We receive no commissions, no referral fees and no payments of any type from third parties for our recommendations or any actions that we undertake for you.
This fee-only form of compensation removes potential conflicts of interest and gives us yet another incentive to grow your assets.
As a member of the National Association of Personal Financial Advisers (NAPFA) and an independent Registered Investment Adviser (RIA), our firm is required to use a fee-only model. Fee-only advisers have a fiduciary obligation to put clients’ best interests first.
We believe that it is very important for you to understand how your financial adviser is compensated. NAPFA’s Consumer Guide, Pursuit of a Financial Adviser, lists three basic models:
- Fee-Only Compensation prohibits advisers from receiving financial rewards from third parties. Fee-only advisers may charge an hourly rate, a flat fee, a retainer for their services, or a percentage of assets managed.
- Fee-Based Compensation (fee and commission) allows client fees, referral fees and commissions. Fee-based advisers may charge clients fees for their advice, and may also receive compensation for the products that they sell or recommend, creating an inherent conflict of interest. NAPFA states that sometimes commissions may be credited to client fees, creating the illusion of a lower price.
- Commissions, or compensation for selling specific financial products, are the primary means of producing income for some advisers. NAPFA advises clients working with a commissioned salesperson to consider: “Is this advice truly in my best interest or is it the most profitable product for my adviser to sell?”
Our fee-only compensation structure clearly shows how our core values of relevancy, transparency and generosity benefit you. We would love to tell you more about it.
Please Contact Us for further information about our fees and copies of our Firm Disclosure Brochures.