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Q2 Blog Series: Master’s Wealth Management, Our Own Registered Investment Advisory (RIA) Firm – Fee-Only

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Throughout this blog series, we have highlighted different aspects of our transition that we believe will enhance your experience as a client of Master’s in the future. As we conclude our series, we will explore what it means for Master’s to be a fee-only Registered Investment Advisor (RIA).

Fee-only simply means that the only way our firm receives revenue is directly from our clients. This stands in contrast to commission-based arrangements, where advisors receive compensation from sponsoring companies for placing clients into one of their products.

This distinct difference has some important considerations for you as a client of Master’s:

  1. Fiduciary Standard – Under a fee-only model, we are held to a fiduciary standard, meaning that all advice we give must be in the best interest of the client. At Master’s, we have always given advice with this standard at the forefront, but adopting a fee-only approach reinforces a legal obligation to act in your best interest. It aligns our interest with yours and minimizes potential conflicts of interest that could exist under a non-fiduciary relationship.
  2. Expanded Advice – Implementing a fee-only structure also gives us more flexibility to provide a full spectrum of financial advice to our clients. Unlike non-fiduciary models, where advice may be subject to constraints, we now have the freedom to offer a broader array of resources to you in all areas of your financial life.
  3. Transparent Relationship – With all our compensation coming directly from our clients, the fee arrangement is fully transparent. While transparency has always been a cornerstone of our client relationships, the shift to a fee-only model raises the stakes and puts our clients firmly in the center of our relationship.

Put simply, becoming fee-only holds us to the highest standard possible in our industry. We eagerly embrace this model as it highlights our longstanding commitment to prioritize our clients’ interests. It’s a tangible way for us to demonstrate our dedication to a client centric model and represents an evolution in our journey of excellent service to you and your family!