Fee-Only Fiduciary Financial Advisors
Fee-Only Independence means that we remain unbiased in our advisor-client relationship. We accept no referral fees or commissions in any aspect of our practice. Fee-Only is more than a description of compensation; it dictates that our interests are naturally aligned with yours. Our primary intent is to serve you professionally and retain you as a lifelong client.
The result is unbiased financial advice rendered by our advisors who are committed to acting as a fiduciary in a client-centered relationship. RCS Financial Planning works hard to preserve our station as an independent firm, void of conflicts of interest, and dedicated to the loyal pursuit of satisfying our clients.
A widely misunderstood concept is the distinction between a financial advisor who is a comprehensive financial planner skilled in all aspects of wealth management and a salesperson affiliated with proprietary products. A comprehensive financial planner working as a registered investment advisor is, in no uncertain terms, a legal fiduciary. As a fiduciary, a RCS Financial Planning financial advisor must always provide services and advice in the best interests of our clients. This fiduciary capacity lies in stark contrast to those who may represent themselves as "financial planners." In reality, they are salespersons peddling proprietary products for which they will receive a hefty commission.
Whereas salespeople may primarily pursue their own interests, a fiduciary must serve the client, if necessary, at the cost of the fiduciary's own interests.
Unfortunately, the vast majority of those who represent themselves as "financial planners" are in reality brokers (financial product salespeople). Further, their behavior is not regulated through a fiduciary relationship with their clients. Instead, they have a principal-agent relationship with a product provider and a salesperson-customer relationship with a consumer. In this arrangement, a broker must act in the best interest of the product provider, not the best interest of their customers.