How does GenFi get paid?

The fee-based model for financial planners

Ben explains the three primary ways in which GenFi is compensated, ensuring clarity and transparency in their payment structure:

• Flat Fee: GenFi charges a flat annual fee that covers all services for the year, irrespective of the number of meetings or the extent of consultations, including interactions with other professionals like CPAs or lawyers on the client's behalf. This model encourages open communication without the concern of accruing additional costs per session.
• Assets Under Management: For clients who prefer not to manage their own investments, GenFi offers to handle their assets for a percentage-based fee. This option is perfect for those who would rather focus on their professional and personal lives without the burden of managing their investments.
• Commission from Products: When clients need products like life or disability insurance, GenFi can facilitate these, earning a commission directly from the insurance company, not out of the client's pocket. However, purchasing through GenFi is not mandatory; clients are free to choose their providers.