Jeff Sprowles and Associates, LLC
Fee Only Financial Planner and Investment Advisor
Fee Only Financial Planner and Investment Advisor
Fee Only Financial Planners and Investment Advisors
What does "Fee Only" mean?
Jeff Sprowles and Associates, LLC, is paid only by clients. No fees are accepted from mutual funds, brokerage firms, insurance companies or any other third party. Any recommendations to buy or sell securities are made only because we believe the recommendations are in the best interest of our client. Every effort is made to separate our fee from the advice we provide.
For example, consider the case of Hester Prynne, who is being charged 1% of $1,000,000 being managed by advisor Nathaniel Hawthorne. Miss Prynne wants to know if she can afford to buy a $750,000 vacation house in Mexico and, if so, what would be the best way to purchase it. If she needs to make a substantial withdrawal from her managed account to buy the house, there will be an impact on Mr. Hawthorne's fee.
Will Mr. Hawthorne suggest making the purchase with cash if it will reduce his fee by 75%, even if that is the best advice? If Mr. Hawthorne suggests taking the largest mortgage possible, can Miss Prynne feel confident that this is the best method of making the purchase without wondering if the advisor is considering the effect on his income?
At Jeff Sprowles and Associates, we prefer to charge fees in a way that will minimize links between recommendations and our compensation. In general, people work for those who pay them. We are paid only by our clients; we work only for our clients. The client can rest assured that we at Jeff Sprowles and Associates will act only in their best interest.
For example, consider the case of Hester Prynne, who is being charged 1% of $1,000,000 being managed by advisor Nathaniel Hawthorne. Miss Prynne wants to know if she can afford to buy a $750,000 vacation house in Mexico and, if so, what would be the best way to purchase it. If she needs to make a substantial withdrawal from her managed account to buy the house, there will be an impact on Mr. Hawthorne's fee.
Will Mr. Hawthorne suggest making the purchase with cash if it will reduce his fee by 75%, even if that is the best advice? If Mr. Hawthorne suggests taking the largest mortgage possible, can Miss Prynne feel confident that this is the best method of making the purchase without wondering if the advisor is considering the effect on his income?
At Jeff Sprowles and Associates, we prefer to charge fees in a way that will minimize links between recommendations and our compensation. In general, people work for those who pay them. We are paid only by our clients; we work only for our clients. The client can rest assured that we at Jeff Sprowles and Associates will act only in their best interest.
