There are three primary ways that people get paid in the financial services industry.
- Commission. An adviser receives compensation in the form of commissions for selling insurance contracts or recommending certain mutual funds or other investment vehicles to their clients.
- Fee-based. Some of the adviser’s compensation comes directly from clients, and some comes from commissions on financial products sold to their clients.
- Fee-only. These advisers have a fiduciary responsibility – a legal and moral obligation – to only choose investments that are in their client’s best interest. Fee-only firms accept payment only from their clients and are prohibited from receiving any compensation in the form of commissions, referrals or other hidden charges.
Bastion Fiduciary is a fee-only, independent Registered Investment Adviser. We take being a fiduciary seriously. We get paid solely by our investors as a percent of assets under management.
We support and are an affiliate member of NAPFA, the National Association of Personal Financial Advisors. NAPFA is the country’s leading professional association of Fee-Only financial advisors – highly trained professionals who are committed to working in the best interests of those they serve.
