The best advice, free of outside influences.

As an independent, fee-only financial adviser working in your best interest, Donna Chaney wants to be clear about her fees and what they cover. As a fiduciary, she is required to hold her clients’ interests above her own and must be free of any perceived or actual conflicts of interest. This is

What’s a fiduciary? Find out in “Cutting Through the Confusion” brochure from the CFA Institute. (PDF 420K)

Financial Planning

Fee-only financial planning means you get a plan for your life, developed exclusively in your interest, not in the interest of a mutual fund company, broker or commissioned salesperson. The only compensation for your financial plan is the fee you pay.

This means Donna:
  • Receives no commissions from third parties
  • Has no ties to any particular investments, funds or companies
  • Is not motivated to invest resources that would better serve you in cash
  • Is not motivated to move your investments for commissions’ sake

This financial planning fee will be determined in your initial meeting with Donna, prior to making any commitment. A variety of payment structures are available to provide services in a way that is most appropriate to your situation:

  • As an annual fee, based upon the complexity of your situation, including implementation and periodic checkups. This typically ranges from $500 to $5,000 per year
  • At an hourly at a rate of $200 per hour

Investment Management

Donna provides investment management services at a rate of 1% of assets under management. This fee holds true regardless of what funds, stocks or other investments you choose.

All fees paid to Chaney Financial Services for investment management services are separate and distinct from the fees and expenses charged by mutual funds and exchange traded funds (“ETFs”), and the custodian.

Learn about fee-only vs. commission-based service providers.

Advantages of a Fee-Only Financial Adviser

Payment methodology Flat annual, hourly and/or a percentage of assets under management. Tailored to your situation. Simple. May include a fee and/or a commission. Not always transparent or simple.
Transparency Easy to see. Not always visible.
Aligned incentives Portfolio goes up, so does fee. Portfolio goes down, so does fee. Incentive is to service existing clients rather than acquire new ones to maximize compensation. Commission paid “up front” and paid before the portfolio performs. Incentive is to acquire more clients to maximize compensation.
If you need or want to get out of the market Fee paid quarterly, so you only pay for service provided. Commission paid up front. No refund if you leave market after it is paid.
Choice of funds Free to choose the best funds from any fund family because the fee is the same, regardless of funds chosen. Discounts (break points) provided for selecting funds in one fund family. So the trade-off is reduced cost, but it limits your choices.
Level of care Fiduciary — make the best recommendation for the client. Suitability — adviser is contractually obligated to primarily represent their employer. You are a client of the company, not the adviser.
Independence “I only work for you. Fee-only. Fiduciary. I am my company.” Works for their employer or the company that owns the franchise. Obligation to employer precedes obligation to client.
Custodian (Firm where your brokerage account is held.) “I go where you are. I can work with whatever brokerage firm you choose because my compensation is not tied to the firm. However, I am able to trade on your behalf, at your direction, at certain custodians.” You follow your adviser as they move to different broker/dealer firms, because their compensation is tied to that firm.

More on Services and Compensation

The Uniform Application for Investment Adviser Registration (“Form ADV II”) is a standard regulatory document that provides information about an investment adviser. Learn more about this document or download Donna Chaney/Chaney Financial Services, Inc.’s Compliance Documents (PDF): ADV Part 2A, Brochure and ADV Part 2B, Supplemental Brochure.