Broker Check

Meaningful Differences

Due diligence is difficult. We hope this table helps you do a great job, so you get the most value from your advisor relationship. The two tables compare and contrast advisory firms and advisors, respectively.

Typical Advisory FirmJourney Wealth Partners
CompensationFee-Based, CommissionsFee-Only
Sources of RevenueFund Companies, Insurance Companies, Product SalesClient Only
StructureEach Advisor has “own book”Collaborative Team
Investing StrategyActiveEvidence-based
Wealth ManagementPrimarily Investment ManagementComprehensive Financial Planning and Integrated Investment Management
Investment ControlDiscretionaryNon-Discretionary or Discretionary, with an Investment Policy Statement
Average Clients per advisor30050
Regulatory RequirementSuitability StandardFiduciary Duty
CompensationCommission & Bonus based on Assets Under ManagementSalary & Bonus based on Client Satisfaction and Planning & Investing Expertise
Advisor PrioritiesSales QuotaClient Retention
Industry Exams

Series 7

(Required for Registered Representatives to earn commissions)


(One of the industry exams to work for a Registered Investment Advisory Firm and must adhere to Fiduciary Oath)

CertificationsNone or Alphabet SoupCERTIFIED FINANCIAL PLANNER™
Measure of SuccessAssets Under Management through Sales and Investment PerformanceClient Goals achieved through Implementing plans and strategies

Read this illuminating post from the Above the Market blog, A Hierarchy of Advisor Value, to learn why the differences above are meaningful for you. Be sure to read the closing paragraph.

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