What Does an Advice-Only Financial Planner Do?
- Lori Curtiss
- Jun 20
- 2 min read
Most Canadians don’t realize there’s a difference in how financial planners are paid. The traditional route? You walk into a bank and talk to someone in a suit who hands you a glossy brochure. I know that route well - because I was one.
I started my career as a bank teller, cashing cheques and chatting with clients. Over time, I moved up to become a Senior Financial Advisor, eventually managing investment portfolios of over $500,000. What I learned along the way was eye-opening: the wealthier the client, the better the advice. Everyone else? They were usually talking to someone new to the role, freshly licensed, and under pressure to sell.
That experience is one of the reasons I became an advice-only financial planner. I wanted to offer real, unbiased guidance to people who have often been overlooked by the traditional system.
What Does “Advice-Only” Mean?
Advice-only financial planning means exactly what it sounds like - advice without product sales.
I don’t sell mutual funds, insurance or investment products
I don’t earn commissions or referral fees
You pay me directly for advice that’s tailored to your goals and values, not my sales targets
Because I don’t manage your money or earn anything based on what you buy, you can trust that the advice you receive is truly in your best interest.
How Is This Different From Fee-Based or Commission-Based Financial Planners?
There’s a lot of confusion around these terms, so here’s a quick breakdown:
Commission-based planners earn money from the companies whose products they sell - like mutual funds, insurance policies or annuities.
Fee-based planners may charge you a fee, but also earn commissions or kickbacks from financial products.
Advice-only planners are paid solely by you, for planning advice. No product sales, ever.
Think of it this way: if someone’s income depends on you buying something, their advice may not be as objective as you’d like.
Who Is Advice-Only Financial Planning For?
This model isn’t just for high-net-worth families. In fact, it’s designed for people who want advice without pressure or bias, including:
Middle-income Canadians who feel overlooked by traditional advisors
Couples in their 30s to 50s trying to make smarter money decisions
DIY investors who want a second opinion without handing over control
Anyone who wants to feel more confident about their finances, without worrying about being sold something
The Bottom Line
If you’ve ever left a financial planning meeting feeling more confused than when you walked in, or unsure whether the advice was truly for your benefit, advice-only planning might be the better way.
You deserve advice that puts you first.
Want to learn more about working with an advice-only financial planner in Canada?
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