In this podcast episode, host Tim Goodwin and guest Joe Beckford (affectionately called “Beckforth”) discuss the role and benefits of fee-only financial advisors, addressing common misconceptions. Joe, a Senior Wealth Advisor at Goodwin Investment Advisory, explains that fee-only advisors are compensated solely by client fees, without commissions from third-party products. They delve into the three primary compensation models: Asset Under Management (AUM), which charges a percentage of managed assets; flat fees, which involve fixed payments; and hourly fees, billed for specific advice or services. Goodwin Investment Advisory prefers the AUM model as it aligns client and advisor interests, incentivizing portfolio growth while providing comprehensive financial planning, tax strategies, and risk management.
The discussion highlights that fee-only advisors are not inherently more expensive but focus on long-term value by minimizing fees, maximizing returns, and reducing financial anxiety. Transparency is a cornerstone of the firm’s approach, with no commissions accepted since its founding, and clients are encouraged to ask about compensation and review credentials, complaints, and testimonials when selecting an advisor. The episode wraps up with a reflection on the meaningful relationships built through ongoing client engagement and a note of gratitude, emphasizing the importance of trust and collaboration in financial planning.
The Money PIG podcast is hosted by Reid Trego. Goodwin Investment Advisory is a Registered Investment Advisory firm regulated by the Securities and Exchange Commission in accordance and compliance with securities laws and regulations. Goodwin Investment Advisory does not render or offer to render personalized investment or tax advice through the Money PIG podcast. The information provided is for informational purposes only and does not constitute financial, tax, investment or legal advice.
For personalized financial guidance, schedule an intro call with our team at Goodwin Investment Advisory in Woodstock, Georgia . Our CFP® professionals can provide advice and help you navigate how to invest your wealth and plan for your retirement. We’d love to help you live out your legacy! To learn more about the benefits and services we offer click here.
Goodwin Investment Advisory is an SEC-registered investment adviser (CRD #131193), and this episode is produced by evanced.net. This podcast is for informational purposes only and is not investment advice or a recommendation to buy or sell any financial products, securities, digital assets, or other investments. It should not be used as the basis for any financial decisions. The host and/or guests may personally hold investments mentioned in this episode. All investments involve risk, and past performance does not guarantee future results. Please consult with a qualified financial adviser, tax professional, and attorney before taking action on any information shared.
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