Wayne DeMeester has over 25 years of experience in financial services. He earned an MBA from Brigham Young University and a CIMA designation from Wharton. He currently serves as managing director for Definitive Advisors, a fee-only investment advisor in Washington. Fee-only advisors charge flat rates for their services unlike brokers who earn commissions, removing conflicts of interest when recommending financial products.

2.  Wayne DeMeester earned his MBA from
Brigham Young University as well as the
professional designation Certified Investment
Management Analyst (CIMA) from the
University of Pennsylvania’s Wharton School. He
has worked for more than 25 years in the
financial services industry, serving such industry
leaders as Wachovia, KBR Capital Partners,
and the Arizona-based RRS & Company, a real
estate finance and investment company.
Wayne DeMeester currently serves as
managing director for Definitive Advisors LLC, a
fee-only investment advisor headquartered in
the state of Washington.

3.  Relative newcomers to the investment services
industry, fee-only investment firms charge a flat rate
for their services. This is unlike the traditional
compensation arrangement in that industry, where
brokers and other agents earn commissions based on
the size of transactions they recommend for their
clients.
Fee-only planners calculate their fees in different
ways. If the planner actively manages the client’s
portfolio, it is common to charge a percentage of
the portfolio’s value. Some fee-only planners charge
an hourly rate for their services, while others charge
an annual retainer.

4.  The advantage of this approach to
compensating financial service professionals is
profound: The advisor may accept
compensation only from the client, which
means that, aside from the value of the
investment itself, there is no incentive to try to
sell a particular investment. By contrast,
commissioned professionals have a clear
conflict of interest when they earn commissions
on the financial products they sell. These
conflicts are particularly problematic when
some products generate a greater commission
than others.