Fee-Only means two things:  

  1. The advisor is compensated only by his clients, not a third-party.  He doesn’t accept commissions for selling products, and he doesn’t accept the hidden fees present in many investments a regular advisor would recommend.
  2. The advisor is a fiduciary, all the time.  This means he promises, and is required by law, to work in your best interests.  Many people are surprised to find that the vast majority of advisors are not required to do so.  Stockbrokers and other commission-based financial advisors are only required to sell you a “suitable” investment.