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The National Association of Personal Financial Advisors (NAPFA), is the largest professional association of fee-only comprehensive financial planners in the United States. NAPFA promotes comprehensive financial planning on a fee-only basis.
NAPFA states that a NAPFA advisor cannot receive commissions. In addition, "membership in the Association is granted only to financial advisors who are paid directly by their clients, without receiving conflict-inducing commissions and other rewards for selling financial products". Thus the NAPFA advisor is unencumbered by the biases that commissions may create and are free to offer objective, unbiased advice.
Along with being fee-only, NAPFA members must abide by NAPFA's core values:
Competency - Requires the highest standards of proficiency in the industry.
Comprehensive - Practices a holistic approach to financial planning.
Compensation - Uses a Fee-Only compensation model to facilitate objective advice.
Client-Centered - Commits to a fiduciary relationship that places the client's interests first.
Full-Disclosure - Provides an explanation of fees and potential conflicts of interest.
For more information on NAPFA, please visit their website at www.NAPFA.org
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