Our Compensation
It is very important to us that our Clients understand how we are compensated for our services, so they may make a correct decision about how to best work with us. We are fee-based professionals. This means that we earn our living from financial planning and advisory fees, or commissions from the sale of insurance and investment products. Some Clients want advice that is not influenced by the potential sale of a financial product. We have two basic offerings that can meet this need:
- Fee-Based Financial Planning*. We provide several types of services including comprehensive personal financial planning, retirement analysis, education funding analysis and more. A one-time fee is negotiated with the Client. A written plan is prepared that can be either comprehensive or partial. Plan recommendations will not be implemented (e.g. no product sales)
- Portfolio Monitoring and Consulting Services*. We establish an ongoing advisory relationship. Services are limited to financial matters only (e.g. securities*, retirement, business matters, etc). We can charge either an asset-based fee or an hourly fee.
Some Clients do not want to pay fees, but are seeking guidance on the best product or service to purchase for a particular need. As an Agent of multiple Personal Lines Insurance and Investment* Companies, we can help. We are compensated with sales commissions from the companies that we represent. Another form of "compensation" consists of referrals from our Clients to others they know that may benefit from our services. We pride ourselves on delighting our Clients and ask that they provide referrals when they are pleased with our services. *Securities and Investment Advisory Services offered exclusively through Hornor, Townsend, & Kent, Inc.
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