There was a recent article over the weekend in the WSJ about the confusion over Fee-Only Financial Advisors. Apparently there are advisors out there calling themselves “Fee-Only” when in reality they accept both Fees and Commissions.
Article goes on to state they are doing this to lure potential new clients to them and use a “bait and switch” approach! Seems as if many of the major wirehouse stock brokers are now calling themselves “Fee-Only” Financial Planners! Be forewarned that they may not truly be “Fee-Only”.
You can find all of this on the CFP Board website here
On the right side, go to Find a CFP® Professional and enter your search by City, State, or Zip Code.