Financial Advisor Abandons Commissions and Account Size Minimums, Gears
Services to Average Americans with Simple Hourly Fee-Only Structure
Services to Average Americans with Simple Hourly Fee-Only Structure
After 23 years of operation, Wayne Blanchard, a CERTIFIED FINANCIAL PLANNER practitioner, has announced Money Professionals Group has become an hourly fee-only financial planning firm and he has joined The Garrett Planning Network. Money Professionals Group is aimed at helping people “from all walks of life,” according to the former Army Officer and Banker. “In our previous role, I was unable to help the majority of people in the community because they didn’t meet the minimums we had set for our services. You had to be rich to get good, individual advice. After reflecting on how I’d like to obtain financial advice myself, I decided to make some changes to help people just like my family and friends. I have friends in the military and federal civilian community, the medical arena, seniors, and small business employers up to a hundred employees,” stated the Mr. Blanchard.
“Money Professionals Group will specialize in helping people make better benefit choices, college funding and retirement planning decisions,” continues Blanchard. “Mutual fund selection, asset allocation decisions, portfolio construction and second opinions on all types of financial matters are core competencies. People will also be able to get help with their health insurance paperwork problems. We are committed to finding ways to save them money, reduce their stress levels and foster peace of mind,” he says.
As a Member of The Garrett Planning Network (www.GarrettPlanningNetwork.com), Mr. Blanchard has aligned himself with a nationwide network of independent planners who focus on serving Middle America. “Hourly, As-Needed Financial Planning and Advice for Everyday Life … The New Choice for Smart Consumers” is the network’s trademarked tagline. The network has garnered much media attention, including mentions in/on the Today Show, MSN MoneyCentral, Wall Street Journal, New York Times, Kiplinger Personal Finance, Smart Money, Washington Post, Newsweek and Time magazine. Mr. Blanchard and fellow GPN Members do not accept commissions or any other form of third-party compensation.
“We are compensated solely by the client, on a pure hourly-fee basis,” says the Brevard County resident. “In the beginning, it may be hard for some people to understand they will have to pay for advice they thought they were getting for free,” said Mr. Blanchard. “But these days everyone knows there is no free lunch, and more and more people are becoming aware of the fact that the big companies price hidden profits inside financial products. “Free advice” is generally biased toward the recommendation of investment products and money management through that particular firm. The consumer does not have full information nor the complete range of choices available.”
The Money Professionals Group model is similar to a dental practice, according to Mr. Blanchard. “Clients call us when they recognize the need for advice or assistance. Checkups are encouraged, but are generally initiated by the client. My dentist operates the same way. This service model works well for people who want to take personal responsibility for their financial well-being. Interested individuals may wish to visit our website, www.MoneyProfessionals.com, for helpful information in all areas of personal finance,” he concludes.
