Glossary · fee
Fee-Only
Also known as: no-retrocession, flat-fee
- Definition
- A fee-only advisor charges clients direct (% of AUM, fixed retainer, or hourly) and does NOT accept commission, retrocession, or trail payments from product manufacturers. Considered the gold-standard structural alignment in advisory.
Singapore fee-only advisers explicitly disavow retrocession and product-manufacturer payments. Most independent EAMs operate fee-only by design. Some IFAs are fee-only; many are not (and accept commission alongside advisory fees). Fee-only structure removes the structural conflict of interest where the advisor is paid by the manufacturer to recommend specific products.
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