What is a fiduciary?
A fiduciary is someone who by law is required to put her clients’ interests first.
Do all financial planners have a fiduciary responsibility?
No. Only Registered Investment Advisors have a fiduciary responsibility. Some CFP®s and investment counselors/advisors work for banks, insurance companies, or brokerage firms as fee-based advisors or commissioned salespersons and do not have fiduciary responsibility.
What is a CERTIFIED FINANCIAL PLANNER™ Practitioner?
The CFP® designation is considered the “gold standard” of financial advisory certifications. A CFP must have a college degree and be educated in a wide range of personal finance subjects, pass a two-day exam covering 90 topics, have at least three years’ experience, meet continuing-education requirements and abide by a code of ethics.
How do financial planners charge for their services?
Fee-Only financial planners charge an hourly or flat rate, or base their fees on a percentage of the assets they manage for you. Fee-based financial planners charge fees and commissions on financial products they sell you. Commission-based financial planners receive commissions from broker-dealers for selling their products to you.
How are Wiggin Financial Services advisors compensated for their services?
You pay us a percentage of the amount of assets we manage for you.
$150,000 to $2 million
$2 million to $3 million
$3 million to $4 million
Over $4 million
ANNUALIZED RATE
1.25 percent
1.00 percent
0.75 percent
Negotiable