Fee-Only Investing at Hawkes Fee Only Advisors
Today’s financial services world is a confusing array of choices for consumers. Banks, full-service brokers, discount brokers, insurance agents, and even CPA’s and tax-preparation services claim to offer advice on how to invest your money.
But what is advice, really? To us, it means an impartial expert opinion based on your carefully assessed individual circumstances. So what is missing from the above definition when you walk into, for instance, your local bank? What is missing is impartiality. If “advice” from the bank contains the bank’s products and services, it is NOT impartial. Are they going to tell you that the bank next door has better rates or fewer fees? Of course not. That’s why it is sales, not advice! The same goes for stockbrokers, whose products are sold to consumers that ask for “advice”.
Inherent in all advice, when received from a sales organization, is conflict of interest. There is simply no way to weed out the fact that if you follow their recommendations, they will profit. And these recommendations consist only of products which will pay them, and are limited to products which have agreed to do so. Is this advice, or good sales practices?
Working with a fee-only advisor is the only true way to be assured that the recommendations you receive are impartial, and gleaned from the entire universe of potentially suitable products and services. A true fee-only advisor (not fee-based or “able to work for a fee”, or other such copy-cats) has nothing to draw his allegiance away from the most important thing: YOU and your family.
True fee-only advisors are willing to sign a fiduciary oath which pledges their willingness to work only for fees. No Loads. No Commissions. If you are wondering whether your financial representative would sign one ( and commissioned sales-people, even with “fee-based” accounts, cannot) give us a call and we’ll provide a standard oath ready to sign.
Our unique family owned and operated firm provides the personal, professional and caring service your financial future deserves.
Hawkes Fee Only Advisors
721 Chenango St
Binghamton, NY 13901
Tel: 1800-564-8055 Fax: 607-773-8225