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What does "fee-only" mean, and how is it different from "fee-based"?

Fee-only advisors are paid solely by their clients (flat fees, hourly rates, or a percentage of assets) and don't accept commissions from third parties, which generally minimizes conflicts of interest.
Fee-based advisors charge similar client fees but can also earn commissions on products they sell, creating potential incentives that fee-only advisors don't have.
We are a Fee-only advisor.

A fiduciary financial advisor is legally required to act in your best interest at all times, rather than merely recommending "suitable" products that may pay them higher commissions.
We are a fiduciary at all times.

Financial advisors typically charge around 0.5%–1.5% of assets under management annually, a flat fee of roughly $1,000–$3,000 (or more) for a one-time plan, or an hourly rate commonly in the $150–$400 range, though costs vary widely by advisor, service scope, and location.
See our Services Page.

If your finances are relatively simple and you're comfortable managing your own investing and planning, you may not, but an advisor can add real value if you have complex needs (like a business, inheritance, or major life transition), lack the time or confidence to manage things yourself, or tend to make emotional decisions with money.
Similarly, you can do your own plumbing or electrical work too, but outsourcing to a professional can save time and provide peace of mind.

"Financial advisor" is a broad, unregulated term covering anyone who helps with money matters—including investment management, insurance sales, or brokerage services.
"Financial planner" more specifically refers to someone who takes a holistic view of your finances (budgeting, taxes, retirement, estate planning, etc.) and often holds a credential like CFP® (Certified Financial Planner).
In practice the terms overlap a lot and are sometimes used interchangeably, so it's more useful to ask about someone's specific credentials, services offered, and fee structure than to rely on their job title alone.

A CFP® (CERTIFIED FINANCIAL PLANNER®) is a professional who has completed rigorous coursework, passed a comprehensive exam, met experience requirements, and agreed to a fiduciary and ethical standard, all administered by the CFP Board, qualifying them to give holistic advice on investments, taxes, retirement, insurance, and estate planning.

Financial advisors are typically paid one of a few ways: a percentage of assets under management (commonly 0.5%–1.5% annually), flat or hourly fees, retainers, or commissions on products they sell (like insurance or certain funds)—and many use some combination of these.
As covered earlier, "fee-only" advisors stick strictly to client-paid fees, while "fee-based" or commission-based advisors also earn money from third parties for product sales, which is worth knowing since it can affect the advice you get.
How we get paid - see our Services Page.

It depends on the advisor: many traditional wealth management firms set minimums ranging from $100,000 to $1 million or more in investable assets, while fee-only planners charging flat or hourly rates, and newer robo-advisors or hybrid services, often have low or no minimums—so options exist even if you're just starting out.
We do not have a minimum amount - see our Services Page

A few key things to check: confirm they're a fiduciary at all times (not just in some contexts), understand exactly how they're paid (fee-only vs. fee-based) to spot potential conflicts of interest, and look for relevant credentials like CFP®. Beyond that, it's worth interviewing a few candidates about their experience with situations like yours, their typical client, and their investment philosophy—and checking their background via FINRA's BrokerCheck or the SEC's Investment Adviser Public Disclosure (IAPD) site for any red flags.
You can find ours on the SEC's IAPD site. 

Neither is universally better — it depends on your needs.
Robo-advisors are cheaper (often 0.25%–0.50% annually vs. 0.5%–1.5% for humans) and great for straightforward, algorithm-driven investment management.  However, they can't offer the personalized judgment, tax strategy, estate planning, or emotional support a human advisor provides for complex situations.
To make it more complicated, not all Robos are the same, nor are advisors. Best to interview a few before proceeding.

Some key questions to ask:
 - Are you a fiduciary at all times, or only in certain contexts?
 - How are you compensated (fee-only vs. fee-based)?
 - What would I pay in total?
 - What credentials do you hold (e.g., CFP®)?
 - What's your investment philosophy?
 - What's your typical client profile?
 - How often will we communicate?
 - Who actually manages my account day-to-day?
 - Have you had any disciplinary actions or complaints (verify via BrokerCheck or the SEC's IAPD)?
 - Can you walk me through how you'd handle a situation similar to mine?

For people with complex finances (business ownership, inheritance, major life transitions, or significant assets), an advisor's tax strategy, estate planning, and behavioral coaching can easily outweigh the cost, while for simpler situations—like just investing in a diversified low-cost index fund—the fees may not be worth it. A useful gut check: if paying an advisor's fee (say, 1% annually) still leaves you significantly ahead versus the mistakes you might make on your own (panic-selling in downturns, poor tax decisions, no estate plan), it's likely worth it. 
See Vanguard's Advisor's Alpha study or Rusell Investments' study.

"Wealth manager" typically refers to a financial advisor who specializes in serving high-net-worth clients, offering a more comprehensive suite of services—investment management, tax planning, estate planning, and sometimes concierge services like philanthropic planning or family governance.
"Financial advisor" is the broader term covering everyone from wealth managers to planners who help everyday clients with budgeting, retirement, and basic investing, so the practical difference often comes down to client asset levels and the breadth/exclusivity of services offered rather than any strict regulatory distinction.
John Ehrenfeld, CFP® is a Wealth Manager.

Most people meet with their advisor once or twice a year for a full review, though quarterly check-ins are common too—especially in the first year of the relationship or during major life changes (marriage, new job, inheritance, retirement), when more frequent contact makes sense.
Beyond scheduled meetings, a good advisor should also be reachable for questions as things come up, so it's worth clarifying their typical responsiveness and communication style when you're vetting them.
We have a minimum of two meetings per year, quarterly check-ins, and are very responsive.

Yes—many financial advisors (especially those offering holistic planning, like CFP®s) can help you prioritize which debts to pay off first, decide whether to pay down debt versus invest, and fit debt payoff into your broader financial plan.
That said, for debt-specific strategies like negotiating with creditors or structured repayment plans, a credit counselor or debt specialist may be more targeted, so it depends on your situation.

An AUM fee is a percentage of the total assets an advisor manages for you, charged annually (typically 0.5%–1.5%, often on a sliding scale that decreases as your assets grow), and usually deducted directly from your account on a quarterly or monthly basis.
It's the most common fee-only advisor pricing model, and its key feature is that the advisor's incentives are aligned with growing your portfolio, since their pay rises and falls with your account's value.
See our Services and Fees.

A few ways to check:
 - Ask directly and get it in writing (a true fiduciary will confirm this without hesitation)
 - Check if they're a fee-only advisor registered as an RIA (Registered Investment Adviser)—since RIAs have an ongoing fiduciary duty—versus a broker-dealer rep who may only owe you "suitability"
 - Review their Form ADV Part 2 (a required disclosure document) for their stated fiduciary status and any conflicts of interest
 - Ask specifically whether they're a fiduciary at all times, since some advisors are dual-registered and only act as a fiduciary in certain contexts - a "yes, always" is what you want to hear
We are a fiduciary at all times - here is our ADV Part 2 (see Part 2 Brochures).

Many financial advisors—especially CFP®s and those offering holistic planning—help with tax-efficient strategies, like tax-loss harvesting, choosing between traditional vs. Roth accounts, timing withdrawals, and coordinating with your tax situation to minimize what you owe. However, most financial advisors don't actually prepare or file your tax return—that's the job of a CPA or tax preparer—so the ideal setup is often an advisor and a tax professional working together, and some firms do have both under one roof.
While John Ehrenfeld, CFP® is also an Enrolled Agent (EA), we do not prepare tax returns.  We will coordinate with you or your tax preparer to optimize tax opportunities in the current and future years.

Yes—virtual financial advising is now very common (especially after COVID), with many advisors and firms offering video calls, phone consultations, and digital portals for account access, making location largely a non-issue.
That said, if you specifically want in-person meetings, it's worth confirming this upfront, since some advisors are virtual-only while others offer a hybrid or local-only model.
We are primarily virtual only, but in-person meetings can be arranged (e.g., your residence, public space, etc.).

A financial coach focuses primarily on behavior and habits—budgeting, spending discipline, debt payoff, and building healthy money mindsets—typically without managing investments or offering specific product/investment advice, and often at a lower cost.
A financial advisor, by contrast, is usually licensed/credentialed and can actively manage investments, provide specific financial advice, and handle more technical planning (tax strategy, estate planning, retirement projections), making coaches a good fit for building foundational habits and advisors a better fit once you need investment management or complex planning.