Financial Planning in Washington, DC

The world of finance is complex and ever-changing, making it difficult to prepare, create, and safeguard a financial nest egg for retirement. Without years of education and training on investment topics, you could end up making poor financial decisions.

That’s why it’s worthwhile to team up with a knowledgeable financial advisor in Washington, DC. The Certified Financial Planners (CFPs) at Financial Consulate are dedicated to helping with any monetary endeavor you have, whether that’s saving for retirement or paying for your child’s college education. Everyone has different needs, and a knowledgeable financial planner will cater their services to help you meet your goals.

What is a fee-only financial advisor?

Financial advisors earn money in two primary ways: commissions and fees. To avoid conflicts of interest, fee-only financial advisors don’t accept kickbacks, referral fees, or commissions on product sales. Instead, they make money by collecting a percentage of the client’s total investment portfolio.

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

Don’t confuse one term for the other. Some advisory firms that collect fees and commissions have adopted the phrase “fee-based” to sound more appealing to consumers. However, conflicts of interest may still arise.

On the other hand, fee-only financial planners are not allowed to accept commissions. This means they ­only collect a fee for their services, which is based on the portfolio’s overall value.

What percentage of financial advisors are fee-only?

It may surprise you to learn that less than 1 percent of the nation’s 300,000 financial advisors adhere to NAPFA’s strict standards, including the requirement to offer fee-only services. Financial Consulate is proud to be numbered among these elite few.

How to find a fiduciary financial advisor in Washington

Because a financial fiduciary is duty-bound to offer investment advice that aligns with the client’s best interest, this is likely the type of financial planner you want to work with. A fiduciary financial advisor must disclose any conflicts of interest and be fully transparent about their compensation methods.

Follow these tips to find a financial fiduciary near you:

  • Seek out fee-only financial planning services
  • Find an advisor who is registered with NAPFA
  • Ask your financial planner if they have signed a Fiduciary Oath

Retirement Planning in Washington

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 Washington 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 Washington 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 Washington

It’s important to trust your investment portfolio to a Certified Financial Planner, or CFP. These professionals are licensed by the CFP Board after completing the following qualifications:

  • 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 a Fee-Only Financial Advisor in Washington, DC

Working with Financial Consulate means you benefit from everything a fee-only financial fiduciary has to offer, including complete transparency and sound investment advice. Rest assured that we will never attempt to sell you a product or invest your assets unless it’s within your best interest to do so.

To learn more about the best financial advisors in Washington, DC, please contact Financial Consulate today.