The Merits of Advice-Only Financial Planning: A Flexible, Ongoing Advisory Model to Help You Achieve Your Financial Goals
Financial planning is more than just creating a strategy—it’s about making sure you stay on track as life evolves. Advice-only financial planning offers a flexible, objective way to get expert financial guidance without the conflicts of interest often found in other traditional advisory models. Whether you need ongoing support or occasional advice, this approach meets you where you are.
Why Ongoing Planning Works Best
A financial plan is never "finished." Life changes constantly, with new jobs, market events, family developments, etc. and your financial strategy must evolve with these changes. An ongoing partnership with an advice-only planner offers significant value. Regular check-ins ensure your plan adapts as necessary and that you don’t miss new opportunities or let outstanding issues go unaddressed. This proactive approach helps you stay on track in achieving your financial goals.
Ongoing planning works by keeping your financial decisions relevant to your current life stage. Whether it’s reviewing investment strategies, adjusting retirement plans, or preparing for major purchases, continuous support helps you navigate each transition.
Meeting You Where You Are: Ongoing or As-Needed Advice
Not everyone requires or wants continuous financial oversight, which is where the ad-hoc advice model can be the ideal solution. You can reach out to an advice-only planner when you need help with a specific issue, whether it’s handling a career transition or deciding on a big purchase. This flexibility means you get the help you need without the pressure of a long-term commitment.
At Borges Financial, we offer both ongoing planning and ad hoc engagements that can be paid for by the hour. This allows clients to get tailored support, whether they’re seeking regular check-ins or just guidance at critical moments. The flexibility ensures that clients always have access to professional advice when they need it based on their preferences.
Advantages of Advice-Only Planning
One of the biggest advantages of advice-only planning is its conflict-free structure. Because advice-only planners don’t manage assets or sell products, you receive unbiased advice that’s solely focused on your best interests. There are no hidden agendas or product incentives, just straightforward guidance to help you make the best decisions for your situation.
Another key benefit is that there are no asset minimums. Unlike many traditional financial advisors, advice-only planners can work with clients at any stage of their financial journey. Whether you’re early in your career or preparing for retirement, you have access to expert guidance without barriers.
This approach also gives you control over your financial decisions. Your planner provides advice, but you retain full control over how to implement it. This empowers you to take ownership of your financial future, with the confidence that your decisions are grounded in expert, unbiased guidance. You aren’t on your own however, as an advice only planner can assist with implementation steps as/if needed via Zoom screen sharing or other methods.
How Advice-Only Differs from AUM-Based and Commission-Based Models
One of the key differences between advice-only financial planning and other models like AUM (Assets Under Management) or commission-based advising is how you pay for services. In the AUM model, advisors charge a percentage of the assets they manage for you, which can create a bias toward managing more assets, sometimes prioritizing portfolio growth over personalized advice. The fee structure in AUM models can also lead to higher costs for clients as their assets grow, even if the level of service remains the same.
Commission-based advisors, on the other hand, earn a portion of the sales from financial products like insurance, annuities, or sales loaded investment funds. This creates an inherent conflict of interest, as the advisor may be incentivized to recommend products that generate the highest commissions, rather than what’s truly best for the client.
Advice-only planning eliminates these conflicts by charging a flat or hourly fee for the time and expertise you need. There are no hidden agendas, product sales, or management incentives, meaning the advice you receive is always focused on your goals. You only pay for the guidance you receive, and you retain full control over your assets and financial decisions. This transparent, flexible structure ensures that you receive personalized advice without the pressure of hidden costs or commissions.
Ongoing Support Keeps You on Track
While ad-hoc advice is valuable for one-time issues, ongoing support provides greater long-term value. By staying in touch with your financial planner, you can continuously reassess your goals, adjust your plan, and stay prepared for life’s changes. Regular check-ins allow for proactive decision-making, ensuring that your financial strategy remains aligned with your evolving priorities.
At Borges Financial, we believe that the best financial outcomes come from consistent engagement. Whether it’s annually, semi-annually, quarterly, or as life events occur, continuous support helps you stay focused and on track for success.
The Bottom Line: Ongoing and Flexible Support
Financial planning is an ongoing process. At Borges Financial, we provide flexible, objective advice that meets your needs—whether you’re looking for a long-term partnership or just need help navigating key moments. With advice-only planning, you can ensure your financial plan adapts as life changes while maintaining full control over your decisions. To learn more and explore if Borges Financial and Advice-Only Planning could be right you, please book a complimentary introductory call here.
