Which financial advisory firms are fee-only? 50 big names checked

We checked 50 of the best-known advisory brands against the fee-only definition, using each firm's own SEC filings. One met it.

Written by: Nathan PrescottContributor
Updated: October 31, 2026
Sources: 3 cited
Reading time: 2 min

Of 50 of the best-known names in financial advice, one meets the fee-only definition on its own filings: Facet. Several charge their advisory clients fees only, but earn from their own funds, affiliated insurance agencies, cash sweeps or referrals, so they don’t meet the strict test. The rest are paid partly by commissions on what they sell. Each page below quotes the firm’s own Form ADV, Form CRS and brochures, says who the firm may suit, and shows what it charges next to the $4,500 median for fee-only planning.

“Fee-only” here means what the CFP Board means: paid only by clients, with no sales-related pay to the advisor or the firm’s related parties. To check any advisor yourself, see how to tell if an advisor is really fee-only.

Wirehouses and investment banks

Regional brokerage firms

Independent broker-dealer networks

Insurance companies

Banks

Large advisory firms

Fund companies and digital advisers

What to do with this

If your advisor works at one of these firms, the page for that firm shows how it is paid, what it charges, and the questions to ask. If you want someone paid only by you, the public graph lists fee-only advisors checked against SEC data, with their prices where they publish them.

Questions

How do you decide whether a firm is fee-only?

We use the CFP Board's definition: the advisor and the firm's related parties are paid only by clients, with no commissions or other pay tied to selling products. We read each firm's own Form ADV, Form CRS and brochures, and quote them on each page.

Does not fee-only mean a firm is bad?

No. It means the firm, its advisors or its affiliates can earn money from products as well as from your fees. Many people are well served by these firms. The pages say who each one may suit, and what to ask.

My advisor isn't on this list. How do I check?

Look up the advisor and the firm on the SEC's adviser search and FINRA BrokerCheck, read the firm's Form CRS, and ask how they are paid. Our guide on how to tell if an advisor is fee-only walks through it.

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