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'Advice-Only' Financial Planning fees are transparent & cost-effective
- 'Advice-Only' means that the fees are equal to the number of hours of effort that the adviser puts in for each client i.e. this is how a doctor or a lawyer charges their clients
- This is almost the opposite of fees that are a percentage of the client's assets under management (fees that are a percentage of the client's assets under management are usually extremely high fees)
- Because 'Advice-Only' is very new in India, to keep things simple for the client, many 'Advice-Only' SEBI RIAs (including myself) currently charge a fixed fee
- There are only 13 established Advice-Only Financial Planners in India (see the FAQ page, FAQ #5 for details)
- This article explains why 'Advice-Only is the sub-set of Fee-Only that is in the best interest of the client'