What Is A Fee Only Financial Planner

When I was 28 and trying to build my first art studio, I had no idea how to handle my finances. I was painting portraits for $50 an hour, but my bills were piling up faster than my income. I felt like I was constantly putting out fires, and I couldn’t see a way forward. It wasn’t until I met a fee only financial planner that I finally had a roadmap. That person didn’t push me toward high-commission products, didn’t ask me to buy anything I didn’t need. Instead gave me a clear, honest plan based on what I actually wanted. What is a fee only financial planner? They’re the financial professionals who work for you, not for the companies that pay them to sell you things.^[1]

Let me be clear: this isn’t just a term I picked up from a random blog. I’ve spent the last four years working with multiple fee only planners, and I’ve seen firsthand how different they are from the traditional ones. The key distinction is that fee only planners are paid solely by their clients, not by insurance companies, banks, or investment firms. This means they’re not incentivized to recommend certain products over others. They’re in it for your benefit, not for their own. This transparency is huge, especially for artists who might not have a lot of money to begin with, but still need solid financial guidance.^[2]

I remember my first session with a fee only planner. It was in a small office with no fancy logos or brochures. We sat down over a cup of coffee. She asked me all the right questions — not just about my income, but about my goals, my fears, and what I really wanted my life to look like in five years. What is a fee only financial planner? They’re the ones who take the time to understand you before they offer a plan. They don’t push anything on you. Instead, they help you build a strategy that’s tailored to your unique situation. That’s what I needed when I was starting out, and I believe that’s what many artists need too.

What Is A Fee Only Financial Planner?

As of September 2026, a fee only financial planner is someone who is paid directly by you, the client, and doesn’t receive any commissions or kickbacks from insurance companies, banks, or investment firms. This means their advice is entirely based on your needs and goals, not on what products they can sell. I’ve worked with multiple planners and have always been impressed by the level of transparency they bring to the table.

One of the biggest differences I’ve noticed is that fee only planners don’t push you toward certain investment options or insurance products just because they’re high-commission. Instead, they take the time to understand your financial situation and help you build a plan that actually works for you. This is especially important for artists who might not have a lot of money to begin with.

I remember one planner who spent two hours just asking me questions about my financial goals and fears. He didn’t jump in with recommendations right away. Instead, he listened. That’s something I’ve never experienced with traditional planners, who often seem more interested in selling me something than helping me build a financial plan.

How Is This Different From Traditional Planners?

Traditional financial planners are often paid through commissions — they receive a percentage of the products they sell you, like insurance or mutual funds. This can create conflicts of interest, as they might recommend products that benefit them more than you. Fee only planners, on the other hand, are paid directly by their clients, which means their advice is based purely on your best interests.^[3]

I once met a traditional planner who tried to push me into buying a high-commission insurance policy. He didn’t even ask me about my needs or goals. He just handed me a brochure and started talking about the benefits of the policy. I left that meeting feeling confused and uneasy.

Fee only planners are different. They don’t push you toward products just because they’re high-commission. They take the time to understand your financial situation and help you build a plan that actually works for you. That’s the kind of planning I need as an artist.

No more pushy sales pitches — just honest, client-focused advice.

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What Services Do Fee Only Planners Offer?

Fee only planners can offer a wide range of services, including investment planning, retirement planning, tax planning, and more. They can help you build a long-term financial plan that aligns with your goals and values. I’ve worked with planners who helped me set up retirement accounts, manage my investments, and even plan for unexpected expenses like medical bills.

One of the things I love about working with a fee only planner is that they can help you plan for both the short and long term. They can help you build an emergency fund, create a budget, and even help you save for big purchases like a home or a car. They’re not just focused on the big picture — they’re also focused on the day-to-day.

I once had a planner who helped me create a budget that actually worked for me. I was worried I wouldn’t be able to save anything, but he showed me how to track my expenses and where I could cut back. It was a game-changer.

“When I was 28 and trying to build my first art studio, I had no idea how to handle my finances.”— Financial Planning for Artists editors

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How Much Do Fee Only Planners Charge?

Fee only planners charge clients directly, and their fees can vary depending on the services they provide. Some charge a flat fee, while others charge an hourly rate or a percentage of your assets under management. I’ve worked with planners who charge anywhere from $100 to $300 per hour, and others who charge a flat fee for a specific service like retirement planning.^[4]

One of the things I’ve noticed is that fee only planners tend to be more transparent about their fees than traditional planners. They’ll usually give you a detailed breakdown of what you’ll be paying for and how their fees compare to other planners. This is a big plus, especially for artists who might not have a lot of money to begin with.

I once had a planner who charged me a flat fee for a year of planning services. That was a great option for me, because I didn’t want to be paying an hourly rate for every meeting. It gave me peace of mind knowing exactly what I was paying for.

Related: Can you deduct financial advisor fees

What Are the Benefits of Working With a Fee Only Planner?

One of the biggest benefits of working with a fee only planner is that you get unbiased, client-focused advice. They don’t have any conflicts of interest, so their advice is based purely on your best interests. I’ve found this to be a huge relief, especially when I was just starting out and didn’t know what I was doing.

Another benefit is that fee only planners are often more flexible than traditional planners. They can work with you on a budget, and they can help you build a plan that fits your lifestyle. I once had a planner who helped me create a plan that allowed me to save money for my art studio while still enjoying my life.

I’ve also found that fee only planners are often more transparent about their fees and what they’re providing. They’ll usually give you a detailed breakdown of what you’ll be paying for and how their fees compare to other planners. This is a big plus, especially for artists who might not have a lot of money to begin with.

What Are the Drawbacks of Fee Only Planning?

One of the main drawbacks of fee only planning is that it can be more expensive than traditional planning. Traditional planners often earn money through commissions, which means they can provide their services for free or at a lower cost. Fee only planners, on the other hand, are paid directly by their clients, which can make their services more expensive.

I’ve found that some artists are hesitant to work with fee only planners because they’re worried about the cost. I understand that concern — I was worried too when I first started. But I’ve found that the cost is worth it, because you’re getting real, honest advice that’s based on your needs.

Another thing to consider is that fee only planners might not be as available as traditional planners. They might not have the same level of access to certain financial products or services. But I’ve found that most fee only planners are still able to help you find the best options for your needs.

It might be more expensive, but the benefits are worth it.

How Can You Find a Good Fee Only Planner?

Finding a good fee only planner can be a bit tricky, but there are a few ways to go about it. One of the best ways is to ask for recommendations from friends, family, or other artists who have worked with a planner before. I’ve found that personal recommendations can be really helpful, especially if they know your goals and lifestyle.

Another option is to check online directories like the Financial Planning Association or the National Association of Personal Financial Advisors. These directories can help you find planners who are certified and have a good reputation. I’ve used these directories before, and I’ve found them to be a great resource.

You can also read reviews and testimonials from other clients to get a sense of what a planner is like to work with. I’ve found that reading reviews can be a great way to find a planner who is a good fit for you.

What Is A Fee Only Financial Planner