A Case Study in Financial Advice

Daniel dug deeper and learned from Kaplan’s career guide that “a financial advisor provides clients with financial advice tailored to their financial circumstances, goals (both short- and long-term), and needs.” That line clarified why the couple needed someone who could weave every piece of their financial life into one plan—not just sell investments.

The Confusion: How Do Advisors Get Paid?

Scrolling through blogs, Emma stumbled upon The White Coat Investor, where Dr. Jim Dahle warns that “ a typical advisor charging 1 % of assets under management (AUM) could cost a doctor saving \$50,000 per year nearly \$1 million over a career .”
She highlighted the stark phrase “could cost a doctor … nearly $1 million over a career” to show Daniel how fees compound just like returns.

At the same time, NAPFA’s consumer page explained that it “promotes the Fee-Only compensation model as the most transparent and objective method of financial advising.” The couple began pivoting toward Fee-Only fiduciaries.

Table 1. Snapshot of Advisor Compensation Models

*Ranges aggregated from NerdWallet’s advisor-cost survey and NAPFA guidelines.

Filtering the Field

Armed with new vocabulary, the Millers built a checklist:

1. Must sign a fiduciary oath.
2. Fee-Only (hourly or flat) rather than AUM.
3. Able to coordinate taxes, college, retirement, and estate issues.

Using NAPFA’s search tool, they filtered by “families with young children” and scheduled three introductory calls.

Option 1: Vanguard Personal Advisor Select

The first call was with Vanguard. An onboarding brochure noted that clients receive guidance from a “ Certified Financial Planner (CFP) professional … who builds and maintains a comprehensive financial plan” and charges 0.30 % per year. The pitch emphasized strategies such as “tax-loss harvesting” and Roth conversions, but the AUM fee triggered Daniel’s earlier concerns.

Option 2: Facet Wealth

Facet Wealth offered a flat-fee membership that “ensures objective and commission-free advice” with unlimited messaging and monthly check-ins, promising a broad roadmap for everything from equity compensation to 529 plans. Emma liked the language about “flat-fee, transparent membership” but wondered if virtual-only would feel personal enough.

Option 3: A Local NAPFA Planner

Finally, they interviewed GreenLeaf Planning, a small Wisconsin firm with a philosophy reminiscent of FPIS’s statement that it operates on “ a fiduciary standard of care, meaning they prioritize clients' interests by delivering unbiased advice .” The advisor mapped out their cash-flow, PERA pension options, and estate documents in one dashboard for \$3,600 per year.

Decision & Implementation

The Millers chose GreenLeaf for three reasons:

• Fiduciary, Fee-Only contract (hourly option if needs changed).
  • Comprehensive plan, including estate coordination—echoing FPIS’s promise of “long-term relationships … ensuring services remain aligned with changing goals.”
  • Local office for face-to-face meetings plus secure portal access.

Within 90 days, the advisor:

1. Rebalanced their 401(k) and IRA into a 70/30 low-cost index mix.
2. Launched 529 plans with automated monthly funding.
3. Modeled a 15-year mortgage refinance.
4. Coordinated wills and health-care proxies through the same attorney network featured in FPIS’s service stack.

Outcomes After One Year

Most importantly, both spouses report sleeping better. As Emma told friends, the plan “turned our anxiety into a checklist.”

Lessons Learned

1. Define the scope of advice you need before price-shopping.
2. Understand how a provider is compensated; Fee-Only fiduciaries reduce conflicts.
3. Fees compound—just like returns.
4. Technology (dashboards, video calls) makes nationwide expertise accessible, but some clients still value in-person meetings.
5. Advice is an ongoing relationship, not a one-time transaction.

Epilogue

Twelve months later, the Millers are on track for a fully-funded college plan, a realistic retirement age of 60, and a down-payment reserve for their next home. Their experience echoes NAPFA’s 40-year mission of “advocating Fee-Only, fiduciary financial advisors” who put clients first.

By turning confusion into clarity, the Millers proved that the right advisor is not simply one who “beats the market,” but one who brings organization, accountability, and confidence to every piece of a family’s financial life.