Fee-Only Wealth Management
It’s what is best for you and your financial situation that matters the most.
Westport Wealth Management’s position is that the Fee-Only method of compensation is the most transparent and objective method available. This model minimizes conflicts and ensures that your financial planner acts as a fiduciary. Fee-Only planners are compensated directly by their clients for advice and may be paid hourly, as a retainer or as a percentage of assets (AUM), or as a flat fee, depending on your particular situation and wealth advisor.
Let’s face the fact of the matter. The financial advisor industry has grown immensely over the past 5 years. Everywhere you turn you see someone stating that they are Financial Advisors. Unfortunately, many of these Financial Advisors are only interested in getting you to buy the financial services or products that they are offering. I know. I was one of those financial advisors.
The way in which your financial advisor is compensated can make all the difference in the recommendations they make for you. Fee-Only advisors work under a fiduciary standard that requires advisors to consider what is in their client’s best interest.
There are three basic ways in which financial advisors are compensated:
- commission-based compensation model
- commission & fee compensation model
- Fee-Only compensation model
Both commissioned and commission & fee advisors receive compensation based on the specific financial products they sell to you. Because of the conflict of interest inherent in these transactions, these advisors may have difficulty putting the client’s interest above their own.
The Westport advantage
Welcome to the Westport Advantage
The Westport Advantage is a specific process that we use to help our clients maximize their financial independence, success, and prosperity. We understand that what works for one client doesn’t work for another client. Everything we do is tailored to our client’s individual needs
First, we will take the time to get to know you and your family and work with you to know what is most important to you. For us, this is the most important step in the process.
Second, we will work closely with you to help you develop short-term and long-term needs, priorities, and goals. What are your dreams? Whether it is to retire early and travel, to start your own business, to helping to pay for education or to pay down debt and take control of your financial life. We want to see your dreams come true.
The third step and most important, is developing a Comprehensive Financial Plan.
Lastly, we will help you implement and manage your plan to make sure you stay on track. Or, if necessary, make changes to your plan and your needs change.
about Westport Financial Advisors
Free Initial Consultation
The first step is for us to get to know you and what's important to you. And for you to get to know us. Financial Planning is a true partnership between you the client and the Financial Advisor.
Comprehensive Financial Plan
The most important part of all is understanding where you are now financially and where you want to be. A well thought out detailed Comprehensive Financial Plan is the starting point for all of my clients.
Some of Our Services
- Holistic Financial Advice
- Educational / College Planning
- Retirement Planning
- Risk Avoidance Planning
- Money Management Strategies
- Investment Strategies
- Wealth Management
Fiduciary Responsibility & Trust
A fiduciary is a person or organization that acts on behalf of another person or persons, putting their clients' interests ahead of their own, with a duty to preserve good faith and trust. Being a fiduciary thus requires being bound both legally and ethically to act in the other's best interests. At Westport Financial Advisors we take being your Financial Advisor very seriously and understand the amount of trust that is involved. We look forward to gaining your trust and becoming your trusted advisor.