Financial Advisors
Financial Advisors
There are many types of financial advisors in practice today, ranging from those that work as independents to others affiliated with large public or private financial services firms. Financial advisors may be compensated in various ways based on the roles they play in helping clients with their specific needs. There are basically three ways in which an advisor is usually paid.
- Fee only – The advisor generally works on an hourly basis or charges a percentage of assets under management.
- Fee & Commission – The advisor may charge a fee for financial planning or advising on various issues and then may earn a commission from the sale of financial or insurance-related products.
- Commission only – The advisor’s primary source of compensation is generated from the sale of financial products.
It is important to understand that all of these modes of compensation are acceptable, as long as fees and commission are reasonable.
Before hiring any financial consultant, clients should spend time talking with the advisor to learn about and become comfortable with how they are compensated.
Furthermore, clients should thoroughly understand how fees are charged and what expenses are associated with asset management.
Full disclosure is very important and one of the key factors when evaluating a financial advisory relationship.
Tesoro Capital Management, LLC is a fee only financial advisory and wealth management firm.
As such, we do not market any financial products or sell insurance of any kind.
We believe the fee only relationship enables us to work with clients objectively and collaboratively.
Our financial advisors and investment management team are dedicated to finding solutions that help our clients meet their complex and varied needs.
Patrick Horan, CFP®, ChFC, the firm’s president and CEO is a member of NAPFA.
NAPFA
The National Association of Personal Financial Advisors is the largest professional association of Fee-Only comprehensive financial planners in the United States.
With over 1,200 members and affiliates nationwide, NAPFA members provide consumers and institutions with objective financial advice on a Fee-Only basis.
We believe that to keep the best interests of clients in mind, neither the advisor nor any related party should receive compensation contingent on the purchase or sale of a financial product.
As NAPFA-Registered Financial Advisors, our role in the lives of those we serve is clearly defined with our Core Values:
- Competency: Requiring the highest standards of proficiency in the industry.
- Comprehensive: Practicing a holistic approach to financial planning.
- Compensation: Using a Fee-Only model that facilitates objective advice.
- Client-Centered: Committing to a fiduciary relationship that ensures the client’s interest is always paramount.
- Complete Disclosure: Providing an explanation of fees and potential conflicts of interest.
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