What does “fee-only” mean?

The only compensation Donna receives for providing financial planning and investment management services is the fee you pay to Chaney Financial Services. All fees paid to Chaney Financial Services are separate and distinct from the fees and expenses charged by mutual funds and exchange traded funds (“ETFs”), and from brokerage commissions or transaction fees charged by your broker/dealer-custodian.

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 check-ups. This typically ranges from $500 to $5,000 per year.
  • At an hourly at a rate of $200 per hour.

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What’s a Registered Investment Adviser?

Registered Investment Advisers (RIA) are held to a fiduciary, rather than suitability, standard of customer care. This means they are required to put your financial interest above their own.

This is why Donna Chaney has no contracts or obligations to any mutual fund company or other financial product provider.

As a CPA/PFS and former auditor, independence is the only way Donna does business.

That’s why she structured her company, Chaney Financial Services, Inc., as a Registered Investment Adviser (RIA) which holds her to a fiduciary, rather than suitability, standard of customer care.

What is a CPA/PFS?

A CPA/PFS is a Certified Public Accountant, licensed by the American Institute of CPAs after passing the Uniform CPA Examination, and a Personal Financial Specialist, who has passed the PFS Examination. The CPA Exam helps ensure that only qualified individuals become licensed as U.S. Certified Public Accountants, while the PFS Exam tests candidates’ tax expertise and comprehensive knowledge of financial planning, including estate, retirement, investments and insurance.

What does “non-discretionary” mean?

Your investment adviser offers professional advice related to your investment decisions and may offer recommendations, but your adviser will not buy or sell securities without your prior approval. You maintain control of your investments. Trades are made by the adviser only with the client’s pre-approval.

What is a “custodian?”

A financial institution that holds customers’ securities for safekeeping so as to minimize the risk of their theft or loss. A custodian holds securities and other assets in electronic or physical form.

What is “directed brokerage?”

When an investment adviser directs clients to a particular custodian in order to work with them. For Chaney Financial Services, this is Charles Schwab & Co., Inc. . When you open a brokerage account(s) with Charles Schwab & Co., Inc. , Donna is able to make trades on your behalf, monitor your account, directly deduct fees, receive transactional data to prepare performance reports and service your account by assisting with forms processing (deposits, withdrawals, beneficiary changes, address changes, etc.).