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Advice Only Financial Planning Demystified.

Financial planning is a crucial process that helps in managing one's finances, but it can also be a daunting task. The process can be quite overwhelming, especially for individuals who have limited financial knowledge or are confused about how to get started. If that's you, then you might be interested in advice only financial planning.

Advice-only financial planning is a new model of financial planning that is gaining popularity as people seek more affordable and unbiased advice. This type of planning is designed to provide clients with recommendations on how to manage their finances without the need to act on them. In this blog post, we'll delve deeper into what advice only financial planning is, how it works, and why you should consider it.

What is Advice Only Financial Planning?

Advice only financial planning is a type of financial planning that focuses on providing customized, independent, and objective advice to clients without the sale of financial products. This approach is quite different from traditional financial planning, which often includes a range of financial products, such as insurance, investments, and loans.

In advice-only financial planning, the advisor only offers advice and does not earn any commissions or fees from product sales. Therefore, clients only pay for the advice they receive, and there are no hidden fees or product biases.

How Does Advice-Only Financial Planning Work?

The first step in any advice-only financial planning is to establish a client-advisor relationship. This relationship begins with a discovery process where the advisor gets to know you and understands your unique financial needs and goals. During this process, the advisor also educates you on financial planning concepts and tools.

After understanding your financial needs, the advisor develops a comprehensive financial plan that outlines your goals, recommended strategies, and action steps to achieve them. The advisor then presents the plan to you and answers your questions to ensure you understand the recommendations and their implications.

Once you approve the recommended plan, the advisor continues to monitor your financial progress and offers ongoing advice and support as you work towards achieving your financial goals.

Benefits of Advice Only Financial Planning

One of the main benefits of advice-only financial planning is that it is cost-effective. Since the advisor does not earn any commissions or fees from product sales, clients only pay for the advice they receive, making it more affordable and accessible.

Another advantage of advice-only financial planning is that it is unbiased. Advisors who sell financial products often have incentives to recommend particular products, whether or not they are in their client's best interest. In contrast, advice-only financial advisors provide recommendations that are solely in their client's best interest.

Finally, advice-only financial planning provides clients with tailored, objective, and customized advice. Advisors work with clients to understand their unique goals and financial situations, and then provide recommendations and strategies that are tailored to their needs.

Who Should Consider Advice Only Financial Planning?

Advice-only financial planning is ideal for individuals who want objective and unbiased advice without the need to purchase any financial products. It is also ideal for those who are just starting their financial journey and need guidance on how to achieve their goals.

Additionally, advice-only financial planning is suitable for those who want an affordable and accessible way to receive advice and support on their financial journey. It is an excellent option for those who don't have substantial assets or want to pay for only the advice they need.


In conclusion, advice-only financial planning is an innovative approach to financial planning that provides affordable, unbiased, and customized advice to clients. It provides clients with tailored recommendations and strategies, without the need to purchase any financial products. It is a great option for individuals who want to achieve their financial goals and want guidance without the additional expenses. If you are looking for reliable and unbiased financial advice, advice-only financial planning could be the answer.