Targeted Financial Planning

A fee-only registered investment advisor is by definition a fiduciary to its clients under the Investment Advisers Act of 1940. The firm's ADV filings with the SEC would disclose this status explicitly. This separates its legal obligations from those of broker-dealers, who operate under the suitability standard unless specifically operating in an advisory capacity.

The firm's name reflects a planning-first model, and fee-only RIAs typically bill via one of three methods: a percentage of assets under management, an hourly rate, or a fixed retainer for ongoing planning. Some firms combine an AUM fee with a flat planning charge. The specifics would be itemized in the firm's ADV Part 2A.

A fee-only RIA does not accept commissions, referral fees, or revenue-sharing from product providers. Compensation comes exclusively from client-paid advisory fees. This contrasts with dual-registered advisors who maintain both RIA and broker-dealer affiliations, creating potential incentives to recommend commissioned products.

Independent RIAs typically custody client assets at a third-party custodian — commonly Schwab, Fidelity, or Pershing — with clients receiving account statements directly from that custodian. The specific custodian relationship would be disclosed to clients and is identifiable in the firm's SEC filings.

While both might use low-cost ETF portfolios, Targeted Financial Planning's model integrates in-depth cash flow planning, tax strategy, and goals-based advice with the portfolio, delivered by a human advisor rather than an algorithm. This provides navigation for life transitions — selling a business, retirement, inheritance — that a pure software solution cannot replicate.