It’s wild to think, but it was about TWO YEARS ago when Vivi, Shane, and I sat down and really talked about the financial advice industry. We didn’t like it. When PFC members asked us the very reasonable question, “How do I find a good financial advisor?” we had to dive into the complexities about how financial advisors charge their clients. Most of the advisors you find in the industry earn commissions or charge an annual AUM fee. Both models have huge problems. The way they get paid basically gives advisors an incentive to sell you something, or charge an annual compounding fee that hurts your long term investment growth. We felt strongly that “flat-fee” is the best way to hire a financial advisor.

But when we were asked “Ok, but how do you find a good flat-fee financial advisor?” we didn’t have an answer. That’s when we got out a blank sheet of paper and redrew how financial advice should work. We agreed on things like:

• Flat-fee only. No commissions, sales pitches, products, or AUM fees.
• Clearly advertised, simple pricing.
• A simple “book online” process.
• Transparent, honest reviews.
• Friendly, easy to use website.

The culmination of the above was the birth of Nectarine! We formed the company in the summer of 2023 and fully launched about a year ago in February of 2024. Since then, we have already served over 3,000 clients and our numbers are going up every month! We currently have two simple services:

• The Hour: An hour zoom call with an expert fiduciary. Share a screen, ask your questions, and get a actionable email summarizing your call.
• The Plan: An eight week engagement with several meetings, document review, unlimited email support, and a custom delivered full financial plan.

The feedback we have been getting is incredible. When a client sits down with an advisor who is not trying to sell them something, the experience becomes so much better. A lot of people are thinking about finances this January, so if you’d like to talk to a pro, check us out at hellonectarine.com.

As always, reminding you to build wealth by following the two PFC rules: 1.) Live below your means and 2.) Invest early and often.

-Jeremy

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By: Gabriela Gonzalez
Title: Why the best way to pay for financial advice is flat fee
Sourced From: www.personalfinanceclub.com/why-the-best-way-to-pay-for-financial-advice-is-flat-fee/
Published Date: Wed, 15 Jan 2025 01:39:21 +0000

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