Financial Planning in Frederick County, MD

The complex and ever-changing world of finance makes the process of preparing, cultivating, and protecting a financial nest egg incredibly difficult. That’s why financial planners must undergo years of training, certification, and continuing education to work in this industry.

To optimize your wealth management efforts, we recommend trusting the highly qualified Certified Financial Planners (CFPs) and accountants at Financial Consulate in Frederick County. We follow a strict code of ethics and require our advisors to maintain a higher level of continuing education than the CFP® Board requires. We are also one of the few fee-only financial advisors in the nation to be registered with the National Association of Personal Financial Advisors (NAPFA).

We’ll help you maximize your finances, whether you’re contemplating the impact of retiring, leaving an inheritance, selling a business, or paying for your child’s college education. Everyone’s needs are different, and we’ll make sure we follow rigorous ethical standards while meeting your financial goals.

Hoping to find a financial advisor “near me” in Frederick County? Contact Financial Consulate to schedule an introductory appointment or request a Financial Physical®.

Frederick County Fee-Only Financial Advisors

Investment advisory firms earn money in two primary ways: fees and commissions. Before the Investment Advisers Act of 1940, most investment products were sold for a commission. Today, fee-based and fee-only financial planning is gaining traction over commission-based services. What is fee-only financial planning?

A fee-only financial planner has a fiduciary responsibility to keep the client’s best interests at heart. To avoid the potential for unscrupulous behavior, fee-only financial planners don’t accept kickbacks, referral fees, or commissions on product sales.

Instead, fee-only financial advisors collect a percentage of the total investment portfolio, meaning the advisor’s fee increases if the client’s wealth also increases. This differs from commission-based financial planning, which can result in profit for a broker, even if the client’s overall portfolio loses value.

What is the difference between a fee-based and fee-only financial planner?

The two terms are not interchangeable. Advisory firms that collect fees and commissions often use the term “fee-based” to come across as more appealing. However, a potential conflict of interest remains.

In contrast, fee-only financial advisors are expressly prohibited from accepting compensation for signing up a client to receive a third party’s services. This means they ­only collect a fee for their services based on the success of the client’s portfolio.

What percentage of financial advisors are fee-only?

Of the 300,000 financial advisors in the U.S., less than 1 percent adhere to the strict standards established by NAPFA, including the requirement to operate on a fee-only basis. Financial Consulate is proud to be ranked among these elite few.

Retirement Planning in Frederick County

You have worked hard to build your career over the past few decades. Now, you’re wondering when you can settle down for a comfortable retirement. With retirement planning services in Frederick County from Financial Consulate, we’ll help you develop a financial strategy to help you live a comfortable lifestyle after you stop working. Here are some of the critical factors we analyze:

  • Accumulated assets and debts
  • Estimated earned income and expenses from now until retirement
  • Rate of return on existing investments
  • Income needs and expenses after retirement
  • Current and post-retirement taxable income and capital gains tax rates
  • Required minimum distributions and related taxes
  • Social Security, Medicare, and Medicaid eligibility and benefits

Investment Advisory & Wealth Management

Monitoring and acting upon the continually changing investment market is a delicate and time-consuming affair that is rife with potential pitfalls. The experienced and ethical investment advisory team at Financial Consulate in Frederick County can help by diversifying your portfolio and monitoring its progress with regards to your financial circumstances and life events.

Our wealth management team takes the time to carefully assess the various aspects of your financial standing before making any advisement. This gives us an insider’s view of your specific situation so that we can formulate individualized investment recommendations that suit you perfectly.

Certified Financial Planners (CFP) in Frederick County

It’s critical that you work with a qualified wealth management advisor. The Certified Financial Planners on our team are licensed and certified by the CFP Board. This designation has many requirements:

  • Earn a bachelor’s degree from an accredited university
  • Complete the CFP Board financial planning education requirements
  • Complete the 7-hour CFP Certification Examination
  • Gain three years of qualifying work experience
  • Pass the Candidate Fitness Standards and background check

The financial advisors on our team are all highly qualified to manage your financial investments. At Financial Consulate, we pride ourselves on the high level of education, credentials, and experience we can bring to our clients to ensure you have a successful financial future.

Contact Our Fee-Only Financial Advisors in Frederick County

As a proud NAPFA member, we take the Fiduciary Oath every year, which states we will always work in our clients’ best interests at all times. Whether you’re ready to manage your wealth more effectively, plan for retirement, or get your estate in order, our fee-only financial planners can help you reach your goals.

For more about our wealth management services in Frederick County, including Monrovia, Middletown, and Frederick, contact Financial Consulate today.