An advice-only financial planner gives planning advice for a fee but does not manage or hold your investments.
Advice-only planners help with decisions such as saving, retirement timing, taxes, insurance, and estate coordination, then leave implementation to you. Because they don't manage assets, they don't charge an AUM fee.
The term is widely used in Canada, where advice-only planners are often paid flat or hourly fees.
Sources
Related terms
Looking for an advisor? Browse fee-only advisors by location or specialty.