Common Questions
Here Are Answers To Our Most Frequently Asked Questions:
1. Why should I work with a NAPFA registered fiduciary?
The White House Economic Advisors recently stated non-fiduciaries costs American families $17 billion a year due to the conflicts of interest posed. This results, on average, in 1 percent lower annual returns on families’ retirement savings.1 At BlueSky, the fiduciary standard is upheld in virtually all elements of our firm's culture - even in the way we have built our BlueSky Flat Fee℠ compensation structure. In addition, being a proud member of NAPFA.org, we are required to be held accountable to the highest standards of fiduciary requirements.
2. All advisors say I can trust them; how do I know I can trust you?
It’s true; all advisors say that they are trustworthy, but we go further. Our firm is structured to eliminate conflicts of interest, often creating a lack of trust between advisors and clients. First, we are fiduciaries. This means that we are legally bound to put your interests ahead of our own. Think of the fiduciary standard as the financial advisor’s version of the Hippocratic Oath. Second, we are a fee-only firm. This is a relatively rare model in the industry, and it eliminates the sales commissions that can pit advisors' interests against their client’s interests. When it comes to trust, concrete features like these separate BlueSky from those who only offer lip service.
3. Sometimes, advisors have hidden agendas. How do I know you don’t?
We despise hidden agendas and are huge fans of full transparency. The marquee Wall Street firms may provide plenty of polish, but ultimately they are driven to earn commissions by making sales—especially of their in-house products. This is where BlueSky’s fee-only model makes a huge difference for our clients. We cannot and do not earn outside compensation from any other party. We work exclusively for you, the client, earning only the fee that you have agreed upon, regardless of any advice and recommendations we deliver. We don’t believe that anyone should work with an advisor who is not registered with the National Association of Personal Financial Advisors (NAPFA).
4. Will my relationship with BlueSky be easy and convenient?
We’re committed to delivering an effortless client experience. That includes investing in the most advanced tools and services in the industry. You can choose whether to meet in person or virtually through our Web conferencing tool. Clients also have access to our secure portal with intuitive tools to display performance, up-to-date investment reporting, video reporting, and our live RSS feed.
1. https://obamawhitehouse.archives.gov/the-press-office/2016/04/06/fact-sheet-middle-class-economics-strengthening-retirement-security