An advisor paid through commissions is a Representative of a Broker-Dealer. They receive compensation when they sell a product to a client. The cost of the commissions are passed on to the client.
A Fee-Based advisor is a hybrid of both. This allows them to operate as a Registered Investment Advisor while also providing the ability to sell investment products that pay a commission.
The Fiduciary Standard under which Registered Investment Advisors operate is generally considered a higher standard which requires the Advisor to put the Client’s needs ahead of their own on an ongoing basis. The Suitability Standard under which Brokers operate only requires that recommendations are suitable to the Client’s circumstances at the time the recommendations are made.
At Meld Financial, we are both Registered Investment Advisors and Representative of a Broker-Dealer. We predominately operate as a RIA and charge fees for our services. Maintaining our registration as Representatives of a Broker-Dealer provides us the flexibility to choose the fee structure that is most cost-efficient for our clients in their particular situation. This can be advantageous for clients who are best served by products not typically available to Fee-Only Advisors.
Meld Financial’s clients understand that our relationship with them is not transactional. Our relationship operates as a partnership where our success is measured by your success. Our goal is to diminish your anxieties about your finances so that you can focus on what is most important to you – your job, your family, your goals.
Managing the costs of investing is critical. We have a variety of fee structures available and we work with you to determine the most cost effective means of delivering the services you need.
To manage your assets, we typically charge a fee based on a percentage of your overall account balance. You are hiring us to manage your assets in accordance with your situation, and we hold ourselves to the fiduciary standard.
In some circumstances, an asset-based fee is not cost effective for your situation. For this reason, we maintain the ability to charge a commission.
For financial plans and special projects, we charge a flat, mutually-agreed-upon fee for the services we provide. Fees vary based upon the complexity of services required.
If you prefer to retain our services on an hourly basis, we will work with you to estimate the time that will be required to provide the service you are seeking.