MFP is Fee-Only
We do not receive compensation or commissions contingent on the purchase or sale of financial products. Our compensation comes solely from clients. This assures that our recommendations are free from product bias.
MFP is independent
Besides being free of financial ties to specific recommendations or products, we also do not accept or pay referral fees. This independence allows us to recommend the right service, product or professional to best serve you.
MFP is a fiduciary to each client
We understand our clients are real people and we take the time to get to know you – including relevant strengths and weaknesses. We encourage clients to take an active role in the planning process and in its implementation. Whether you are looking for a one time review or an ongoing service, we always put your interests first.
MFP sees the big picture
Recommendations are made only after we understand how all the pieces of a client’s financial puzzle fit together. A financial plan that does not integrate all financial aspects (e.g. retirement, estate, taxes, investment and insurance) can potentially do more harm than good. We make sure to include the most important piece of the puzzle: you, the client.
MFP saves you money
Your total cost of planning and investing is often less than with other alternatives. How? Commission based financial planners are paid when they sell a product. You, the consumer, ultimately pay these commissions. Investments we recommend generally have lower overall costs and our integrated approach avoids costly mistakes resulting from single-issue decisions. We will gladly detail the costs of our recommendations.
MFP is specific to each client
All recommendations are tailored to each client’s unique circumstances. This means that all advice from MFP will be given only after careful consideration of your personal and financial goals.
MFP is an extension of Jamie Milne
Jamie’s extensive business background gives MFP recommendations a unique flavor. Jamie’s insights provide clients with specifically designed advice stemming from his multi-faceted career experiences. After obtaining a BS in Finance and an MBA from Babson College, Jamie entered an eleven year banking career – holding positions such as Treasurer, Director, Small Business Lender and Senior Management. Jamie was certified as a financial planner (the CFP designation) in 1989, and began a career in financial planning in 1992. Milne Financial Planning is now in its 15th year.
MFP avoids conflicts of interest
Can you be sure your planner will tell you when he/she has a conflict of interest in the advice they are providing? MFP pledges to disclose all conflicts that may arise. The most common question that clients ask that creates conflict is "should we pay off the mortgage?" The conflict results from Advisor’s on-going service fees being calculated on the client’s investable assets. The client uses these investable assets to pay the mortgage, reducing Advisor’s fee the following year. If you have questions about conflicts, or potential conflicts, be sure to ask.