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Wealth Professional | 30 Jul 2015, 10:09 AM Agree 0
Billing yourself as “fee-only” is a decision your certificating body has every right to take issue with, according to a new ruling from one of North America’s most influential courts
  • Peter | 30 Jul 2015, 11:31 AM Agree 0
    As with commissioned based advisors, there are many good "fee based" / "advice based" advisors / planners and then there are some bad apples as well.
    I know a number of so-called "fee only" and "advice only" advisors / planners. They charge the client for their advice and then refer them to an "excellent" advisor who splits the commission or pays a handsome referral fee / commission to the "fee only" or "advice only" planner. Not a bad set-up!

    Similarily like the bank advisors always say they are not paid commission. No they are not, but they do have umpteen quotas and targets to meet to keep their jobs and also must sell the banks' proprietary products.

    The bottom line is that there is no replacement for honesty and integrity, no matter how how many designations one has or how one gets paid.
  • kathy Waite Your Net Worth Manager | 30 Jul 2015, 10:09 PM Agree 0
    Brian from Market Counsel says "If certificants don’t agree or understand with them [terms and conditions], their recourse is to give up their use of the CFP mark well before any inquiry or dispute ensues.”
    is there not a committee meeting in Ontario right now whose role is to report on regulating Financial Planning , in other words handing over the policing of it to FPSC and Advocis? it may not be a choice of using the mark it may be "don't have it don't practise."
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