Plancorp is thrilled to be included in Financial Planning’s annual RIA Leaders issue as #47 on their Top 150 Fee-Only RIAs (Registered Investment Advisor) List. Our continued placement on this list is an honor.
Finanical Planning’s data partner COMPLY used SEC filings to determine and rank the top 150 RIA firms by client accounts and total assets under management.
To be included on this list, firm have to meet the following criteria:
- Firms must have zero registered representatives of a broker-dealer
- At least 50% of the firm’s clients must be individuals or high-net-worth individuals
- Firms must not list commissions as a compensation arrangement
- Firms must have more than zero financial planning clients
- Firms must not list commission-taking businesses in “other business activities”
- Firms cannot be affiliated under common ownership with commission-taking businesses
What is a Fee-Only RIA Firm?
Simply put, fee-only advice ensures that our success is tied directly to our clients’ success. As a fee-only firm, Plancorp doesn’t receive any commission, referral fees, or other type of kickbacks or hidden compensation.
Clients of fee-only firms are charged one fee, typically a percentage of their total assets under management, for wealth management services. This type of structure builds trust between the client and their firm as there are no incentives to direct how client assets are invested.
Because we receive no compensation from the products we recommend, clients can feel comfortable knowing we are always looking out for them, not focusing on selling commission-based products or other agendas. This ensures that our advice is independent, objective and intended to be in our clients’ best interest.
Curious to learn more about the fee-only approach to wealth management services? Read our article Payment Structure: Ensuring Your Investment Dollars Work for You.