Bassett Financial Advisors

Why Financial Planning

Because we bridge your finances to your life.


 

A financial plan is a road map that provides a guide for making all of your financial decisions, motivates you to push a little harder to achieve your goals, and acts as a yardstick to measure progress. Without a map, it can be very easy to start down the wrong path and never arrive at your desired destination.  The holder of the CERTIFIED FINANCIAL PLANNER™ designation is the best suited to design and implement a financial plan for you

 

Why Fee Only?

A fiduciary must do what is in your best interest and therefore must be objective.  I believe objectivity largely depends on how we are compensated.  Some advisors are paid by commissions, fees or a combination of both. When an advisor works for you on a fee-only basis, a fiduciary relationship exists (see fiduciary tab).  A fee-only advisor is driven to provide the best advice possible whereas a commissioned advisor is paid based on the products they sell.  A fee-only advisor, being compensated by a fee, is not therefore tempted to sell high-commissioned products which could be detrimental to the investor. A fee-only advisor gets paid by the hour, the project, or as a percentage of assets they manage for clients.  Through experience I have found that investors prefer being charged a percentage of assets I manage for them.  This way fees are deducted directly from their account.  No checks have to be written.  Also, this means we have the same interest in wanting to see the account grow.  We are partners for your beneficial interest.

Why a CFP®?

Many can call themselves financial advisors and the requirements for carrying this title unfortunately are minimal. The CFP® title is awarded by the International Board of Standards and Practices for Certified Financial Planners. CERTIFIED FINANCIAL PLANNERS™ must undergo two years of intensive training followed by a rigorous two-day examination. A code of ethics must be adhered to and participation in a continuing-education program is required. CFP®s are trained in many aspects of the financial services industry, including investment, insurance, retirement, tax, estate planning, and more.