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Financial Advisor Madison WI

Top Fee Only Financial Advisor & Financial Planner in Madison WI -2020

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Why Work With A Fee Only Financial Advisor?

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Fee-Only:

Always working for you, not a large company who has sales quotas or commissions.

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Fiduciary:

Fee only financial advisors are legally sworn and obligated to place your best financial interest above all else.

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Independent:

Fee only financial planners are independent. They have no affiliation with brokerage firms, banks, or insurance companies.

Fee-Only Financial Planning

Your Local Madison Financial Advisor

Innovative Solutions. Expert Advice.

Financial Advisors in Madison WI With Experience

Our local team of financial advisors in Madison has over 80 years of combined financial experience to deliver a high quality financial plan in the best interest of our clients.

You need a trusted financial advisor in Madison WI who will listen first, understand your current financial situation, and have the qualified financial expertise to provide you with the steps needed to have lasting financial success.

Local Financial Advise (LFA) Specialties Include:

  • Stock Option Exercise Guidance
  • Student Loan Analysis and Payoff Strategies
  • Tax Centered Financial Advice
  • Low Cost, Passive Investment Strategies
  • 401(k) Rollover Analysis
  • Learn More About Local Financial Advise (LFA) in Dane County and Madison, Wisconsin

Why should I work with a financial planner near me that is "fee only"?

Because a fee only financial planner puts you ahead of all else.

Much like your doctor or surgeon puts your life ahead of the hospital’s agenda, we are here for you first and foremost.

Our fees are based on your needs in regards to a financial plan, and we will guide you through the cost of the plan before any paperwork is signed once we have a better understanding of how we can help you.

Top Rated Fee-Only Financial Planning In Madison

As a team of fee only financial planners in Madison WI, we can help you no matter what aspect of financial life you need help with – college planning, planning for career change, retirement planning, employee benefit and insurance analysis, tax planning, and more.  Whether the need is big or small, we are here for you.

Fiduciary Financial Planners in Madison, WI

Each member of the Local Financial Advise (LFA) team has taken a voluntary legal oath to work in the best interest of our clients. We don’t do it because we have to, we work in the best interest for our clients because we want to.

LFA’s team of financial advisors in Madison are hand-selected based on experience and professional reputation, so that we can serve happy individuals and families as our clients for many years to come.

What is the difference between a financial planner and a financial advisor?

As a whole, the terms financial advisor and financial planner are used to describe any person who is giving you, the client, financial advice.

Certainly, understanding what to look for in the business structure the financial advisor is working in is important to finding the right fit.

You can spot a plethora of different financial titles on business cards, websites, and advertisements used by financial professionals.

They can be called Financial Advisors, Wealth Managers, Financial Planners, Financial Coaches, and just about every possible combination in between.  

There is no common terminology, regulation, or restriction on how these terms are used outside of a few simple exams administered by FINRA. Just because someone is saying they provide financial advice, does not mean they are providing ONLY financial advice.

It is commonplace to have individuals with these titles selling you investment or insurance products. They may also use terms such as broker, agent, or representative in their job titles. Generally speaking, these individuals are working for a company, not in your best interest as a client.

Fee Only Financial Advisors Near Me

To address the concern of not acting in the best interest of the client, Fee Only Financial Advisors are simply paid a flat fee or hourly rate to provide the advice best for your personal situation.

These individuals are commonly referred to as a fiduciary, and are there to act in your best interest (not that of a company selling a product) on the way to achieving your financial goals. Most of these Financial Advisors will have the Certified Financial Planner (CFP®) Designation.

This is not to say there are not any reliable commission and fee based firms, but having a fee only CFP is the best way to find a Financial Advisor who will act with your best interest in mind, since they do not have any conflicts of interest.

When Is It Time To Hire A Financial Advisor?

Learning the basic concepts of personal finance can be accomplished quite easily with a quick google search Opening an account, paying off debt, and even investing have become incredibly simple over the past few years.  

Hiring a financial advisor isn’t about accomplishing one or two simple things, it is about knowing how each choice impacts the larger vision you have for your financial future. Some specific moments can create many complications in your financial life, here are a few:  

Planning a Large Purchase or Home Remodel

Purchasing a house is a very common example of a large expense, and usually comes along with a long process and many details to consider.

Likewise, remodeling your home in the Madison area can be a major financial undertaking and must be approached with your personal budget in mind. Even medium-sized home improvement projects such as hiring house painters in Madison, WI are best planned for in advance. 

A Fee-Only Financial Advisor can help give you unbiased insight for a savings plan and how to prepare for the mortgage process and plan for a major home renovation or house upgrades like a bathroom remodel or building a new deck in Madison, WI. Our dedicated team works closely with your lender to save you time and stress while going through the loan application process.

Career Change…

In general, if you are considering a new job, a career change, or are just starting to feel job burnout, talking to a financial advisor in Madison before you make the big switch can help smooth the transition.

Understanding how to plan your finances before any major change in careers can help you stay ahead financially, and eliminate stress from needing to figure it out after starting your new job.

You Were Recently Married…

You will likely have to decide or consider about merging financial accounts, how to budget for two rather than for one, how to talk about money in a healthy manner, filing taxes… the list goes on.  

Our financial advisors in Madison are here for you to help make these transitions simple, and to promote a safe environment to talk about money.

Starting a Business

This also includes freelancing, side hustling, or working gigs. Leaving a full-time job can have large implications on many financial goals such as purchasing a house, having access to credit, and loss of employee benefits.  

Surely, anytime self-employment is coming up in conversation, understanding these changes and how to plan for more complicated taxes can very time-consuming.

A Fee Only Financial Advisor will help you feel more organized, confident, and less stressed about your next adventure.

Starting a Family

Certainly, becoming a parent will create many changes in your financial life.

Understanding how your taxes will change, how much money to dedicate for college savings, or if an estate plan is necessary are all complex questions which can be made simple by working with a Financial Advisor.

Personal finance: Why not just do it myself?

Managing money isn’t easy and your time is valuable. From paying off debt, to investment management, and of course our favorite topic, paying taxes, there are so many variables to consider in your financial plan.

We strive to empower and educate our clients so that you can feel confident in your finances, while giving you peace of mind by handling the complications of tax code, loan terms, and important financial topics.

If after starting your relationship with us you don’t feel we are providing continuing value and peace of mind, you can terminate your agreement at any time.

Inheritances and Windfall

Inherited money from your family? Maybe you found some luck and won a large sum of money?

These are great opportunities to use unexpected money to create a rock solid financial future.

Understanding how tax can impact this, and making sure the money is ready to suit your needs can be made simple by working with a Fee Only Financial Advisor.

financial planner madison wi

Local Financial Advise (LFA) of Madison WI
339 W Doty St
Madison, WI 53703
Mon-Sun 7:00am – 8:00pm
(608) 284-8399

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