Fee-Only Financial Planning
The idea of fee-only Financial Planning was pioneered by Gary Schatsky when he started Independent Financial Counselors in Albany in 1981. A lawyer and Certified Financial Planner, Mr. Schatsky prides himself on providing his clients with advice that is never colored by his own interests.
As a past-president of the National Association of Fee only financial planner, an organization limited to fee-only Financial planners, and as a high profile New York City based fee-only Financial Planner with a national clientèle Mr. Schatsky is regularly interviewed by the Wall Street Journal, New York Times, and CNN.
NAPFA believes that many of the problems that beset Americans today in their financial affairs – including the mis-management of debt, failure to protect retirement assets and poor allocation of savings and investments – relate directly to the conflicts of interest that pervade the marketplace.
The central aspect of fee-only Financial Planning is that the planner has no financial interest in any products that the client purchases. No commissions are paid to the fee-only Financial Planner, so there is no conflict of interest and no worries about whether he is recommending one product over another because of his own commissions.
The only way to figure out whether a fee-only Financial Planner is right for you, is to actually talk to one. Mr. Schatsky will not take on a client unless he is convinced that his services will provide value to his client. It is not based strictly on income or asset level, though the higher those are the more need there often is for more complex financial advice. Rather it is possible that someone with a lower income or asset level can benefit from fee-only Financial Planning advice if there is a level of complexity to their financial life and the income or asset level makes the client less attractive to commission based advisors.
“Financial planners who take commissions have a built-in conflict of interest…even with disclosure, my choice would be a Fee-Only planner.”
Newsweek - Jane Bryant Quinn
Press
ThinkExist.com - Gary Schatsky Quotes
2006
USA Today - McNeil’s Portfolio Needs Diversification - February 5, 2006
2005
Financial Advisor Magazine - Unprotected Clients? - December 2005
Money Magazine - Don’t Let Grandma Break the Bank - September 20, 2005
USA Today - Stretching Mortgage to 40 Years Can Be Risky - August 22, 2005
2004
Skimble Blog - Wealth is Divine - August 5, 2004
2003
Financial Advisor Magazine - The Insurance Policy that Pays Off - December 2003
2001
Financial Advisor Magazine - Passing the Torch - December 2001
Bloomberg Wealth Manager - Friend or Folio? - July/August 2001
Financial Planning Interactive - There’s Something About Gary - May 1, 2001
Financial Planning Interactive - ‘Fee-Nominal’ Success: The popularity of fee-based Financial Planning has prompted the creation of new products - May 1, 2001
CNNMoney - Picking a Good Planner - February 28, 2001
2000
Investment Advisor.com - Powerful Partners - September/October 2000
Investment Advisor.com - Multiple Choice (cover story) - May 2000
Kiplinger’s - Internet roundup - March 2000
1999
Bankrate.com - Keep your investments balanced - November 1999
New York Times Archives - Mortgage Tax on Buying a Condo - April 4, 1999
Objective Advice
ObjectiveAdvice.com is a team of Fee only financial planner who share a simple, professional philosophy:
TRUST | At ObjectiveAdvice.com, we’re dedicated to shaping your financial future – with the utmost integrity, professionalism, and discretion. Whether you’re saving for college or retirement – our solutions will bring you confidence and peace of mind. Trust is the bedrock of all our client relationships.
COMPETENCE | With our combined years of technical expertise, investment experience, and ongoing training, we offer realistic financial solutions for all areas, such as investment, tax, estate, retirement and insurance planning.
OBJECTIVITY | Every client’s circumstances are unique – and that’s why our planners listen very, very carefully to you. Our recommendations will be tailored to the facts of your particular situation. And to avoid conflicts of interest in product sales, we refuse any commissions or other compensation from client transactions based on our recommendations.
ObjectiveAdvice.com was founded by Gary Schatsky to bring personalized, fee-based Financial Planning to a nationwide audience.
Offices
Albany: 518.438.6566
New York City: 212.721.8713
E-mail: gary@ObjectiveAdvice.com
Gary Schatsky
Mr. Schatsky founded IFC (Independent Financial Counselors) in 1981 in Albany, NY. IFC pioneered the concept of comprehensive fee-only Financial Planning advisory services for individuals, which at the time was almost unheard of. IFC has since established an office in New York City that boasts a nationwide clientele.
Mr. Schatsky lectures nationally on topics such as personal finance, investments, and tax and estate planning. His television appearances include NBC Nightly News with Tom Brokaw, the NewsHour with Jim Lehrer, CBS This Morning, and CNBC’s “Money Talk” and “The Money Club.” He’s also been featured in “The Wall Street Journal Radio Report” and National Public Radio’s “Morning Edition” and “Marketplace.” He is frequently quoted in publications such as The New York Times, The Wall Street Journal, Money Magazine, Fortune, Medical Economics, BusinessWeek, Smart Money, Money and USA Today. Several magazines have recognized Mr. Schatsky as one of the top financial advisors in America:
• Worth
• Selected as one of the 250 best Financial planners
• Mutual Fund
• Selected as one of the 100 “super planners”
• Medical Economics
• Selected as one of the 150 best Financial planners for doctors
Mr. Schatsky is also an attorney and a member of the New York and Massachusetts State Bar Associations. In addition, he is Chairman Emeritus of NAPFA (National Association of Fee only financial planner - which represents fee-only Financial planners.
Community service is paramount to Mr. Schatsky. He recently served as the Assistant Director of the Center for Financial Management, affiliated with the Rockefeller College of Public Affairs and Policy in Albany, New York. In that capacity, he guided municipalities throughout New York State in the areas of investment, cash management, and municipal bond issuance.
A native New Yorker, Mr. Schatsky holds a B.A. in Economics with distinction from the State University of New York at Albany and a J.D, cum laude, from the Boston University School of Law.
Offices
Albany: 518.438.6566
New York City: 212.721.8713
E-mail: gary@ObjectiveAdvice.com
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- Hitching a Ride on C.H. Robinson
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- Your Financial Life Plan: An Overview (Magazine Cover)
- Life Plan: Upgrade Your Portfolio (Magazine Cover)
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