FAQ

Q: What does fee-only mean, and why does it matter?

Fee-only means we're compensated solely by the fees you pay — nothing else. We don't earn commissions, referral fees, or compensation from financial products. That structure matters because it removes the conflict of interest that arises when an advisor profits from what they recommend. When you hire a fee-only planner, you can trust that every recommendation is made for your benefit, not to generate a sale.

Q: What is a fiduciary financial planner?

A fiduciary is legally and ethically required to act in your best interest at all times — not just when it's convenient. Many financial professionals are held to a lesser "suitability" standard, which only requires that a recommendation be suitable for a client, even if a better or less expensive option exists. As CFP® professionals and fee-only advisors, we operate as a fiduciary 100% of the time. That means you get advice that's genuinely designed around your situation, not around what pays the most.

Q: How is MacKay Financial Planning different from other financial advisors in Springfield, MO?

A few things set our practice apart:

• Fee-only & fiduciary — No commissions, no product sales, reduced conflicts of interest.
• CFP® professionals  —  All planners in our office have met rigorous education, exam, experience, and ethics requirements.
• Independent — We're not affiliated with a bank, brokerage, or insurance company, so we have no incentive to steer you toward any particular product.  We can recommend any products we want, so we typically recommend the same things we use ourselves.
• Planning-first approach — The focus is on a comprehensive financial plan.  You get advice, guidance, and real financial planning.  If you want us to manage investments accounts, we can do that too!
• Real accessibility — We have a staff of two, both CFP® Professionals, and you'll get one of us when you contact our office. 

Q: Who are your typical clients?

We don't have a specific niche per se, but our clients tend to understand what they want from an advisor.  They want someone who will listen, tell the truth, and provide advice and guidance that is truly in their best interest.  Often our clients are savvy enough to know the pitfalls of other advisory relationships.  That could be high fees, lack of attention, unwillingness to use proven low cost investments, and pushing unfit investment products. 

In the end, most of our clients have a significant goal — saving for retirement, approaching retirement, navigating a career change, or simplifying a complex financial situation. They want straightforward, jargon-free advice and a planner they can actually talk to.

Q: What does financial planning cost at MacKay Financial Planning?

Our fees are transparent and agreed upon upfront — there are no hidden costs or product commissions ever. We offer ongoing services including investment management starting with a flat fee of $1,500/quarter, up to $2 million in investment accounts.  If your accounts exceed $2M, you'll pay .2% on the next $1M, .15% on the next $2M after that, and .1% on amounts exceeding $5M.  

For people who don't want or need ongoing services, we provide one-time financial planning services based on a rate of $250/hour. During a free introductory call, we'll discuss your situation and outline exactly what working together would cost. A typical comprehensive financial plan, including help with your big goals, and discussions and advice on investments, insurance, estate planning, tax and more, you can expect to pay around $3,000.  

You can schedule a call here at our Calendly.

Q: Do you work with clients outside of Springfield?

Yes, many. While we're based in Springfield, MO, we work with clients across the country virtually. Video meetings, secure document sharing, and digital planning tools make it easy to get the same quality of service regardless of where you live. If you prefer to meet in person, our office is conveniently located in Chesterfield Village, at 2142 W Chesterfield Blvd., Suite E201, Springfield, MO 65807.  

That's next to Black Sheep Burger, and down the street from OMO Japanese Soul Food, Bao Bao Chinese cuisine, and Garbo's Pizzeria, in case you get hungry!