From the firm's own Form ADV. A firm is labelled fee-only only when its most recent filing reports no commissions, no broker-dealer or insurance sales capacity and no product-selling affiliates (Items 5.E, 6.A and 7.A). Firms whose filing does not support that label are not published.
What the label does and does not say
The label is always shown as taken from a dated filing, for example: "Fee-only: reports no commissions, no broker-dealer or insurance sales capacity, and no product-selling affiliates on its most recent Form ADV." It describes the firm's filing. It is not a statement about each individual adviser's own compensation arrangements.
If you think a label is wrong
Use the correction link on the profile. Because the label is derived from the filing, the fix is usually an amended Form ADV, and WealthPlanner will tell you if that is the case.
This page is for educational purposes only and does not constitute financial advice. It is general information, not a recommendation for your situation. Consult a licensed financial advisor, tax professional, or attorney before acting on it. Full disclaimer →