Zhang Financial is a fee-only advisory firm and proud member of NAPFA, the National Association of Personal Financial Advisors. NAPFA members must adhere to demanding practice requirements including fee-only compensation, professional designations, continuing education, comprehensive planning, and fiduciary commitments. Please check out the NAPFA Website or read the Frequently Asked Questions below for more information.
Frequently Asked Questions:
What is the significance of the term NAPFA-registered financial advisor?
The term NAPFA-Registered Financial Advisor indicates that a financial planner adheres to the industry's most demanding practice requirements, including Fee-Only compensation, and meets NAPFA's rigorous standards. We believe that through our NAPFA-Registered Financial Advisor program, we have created the financial planning industry's clearest message about the level of responsibility and care that must be exercised on behalf of each client.
Charles was ranked #4 in the nation on Barron's list of America's Top 100 Independent Wealth Advisors for 2017 and has been in the Top 10 every year since 2015. He is currently the highest ranking Fee-Only NAPFA-Registered Financial Advisor on the list. *
What is a fee-only financial advisor?
NAPFA defines a fee-only advisor as one who is compensated solely from the client. Neither the advisor or any related party may receive compensation contingent on the purchase or sale of a financial product. NAPFA members cannot receive commissions, rebates, finder's fees, or any other form of compensation from third-parties as a result of implementing their investment recommendations.
Charles Zhang, CFP®, and Lynn Chen-Zhang, CFP®, are fee-only financial advisors.
Why is fee-only compensation of critical importance?
What does NAPFA stand for in addition to fee-only compensation?
Of equal importance to fee-only compensation is an advisor's ability to make competent decisions and offer a comprehensive approach to financial planning. NAPFA's requirements exceed those of any other financial industry association. The NAPFA program requires new members to have earned the CERTIFIED FINANCIAL PLANNERTM certification, submit a comprehensive financial plan for peer review, and complete continuing education in six subject areas every two years. Additionally, his/her Form ADV must be reviewed by NAPFA annually. NAPFA-registered advisors also sign a Fiduciary Oath, a commitment to working solely in the client's interests at all times.
What is the difference between fee-only and fee-based advisors?
Tell me the difference between fiduciary and suitable.
Fiduciary is a standard key to client agreements with fee-only advisors. While acting as a fiduciary, your advisor must disregard other influences and act only in your best economic interest.
'Suitability' lies within much more murky boundaries in which advisors are not upheld to the same level of dedication and commitment to their clients as fiduciaries.
Charles Zhang, CFP®, and Lynn Chen-Zhang, CFP®, are fee-only, fiduciary financial advisors.
NAPFA website: http://www.napfa.org
*As reported in Barron's September 15, 2017, August 27, 2016, and August 22, 2015. The ranking reflects the volume of assets overseen by the advisors and their teams, revenues generated for the firms, the quality of the advisors' practices, and other factors. For Fee-Only status see NAPFA.org.
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