Experienced Financial Advisor in Suit

Tim: Securities Licensing in MA, RI, NH, CT, ME, FL & Nationwide Financial Planning Services

Tim has offices located in Boston and South Dartmouth, Massachusetts. He is licensed to handle securities in six states, including Massachusetts, Rhode Island, New Hampshire, Connecticut, Maine, and Florida. Moreover, he can provide investment advisory and financial planning services to clients in all 50 states.

I’m an Investment Adviser Representative at Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser (RIA) in Fairfield, IA. I’m also registered with Cambridge Investment Research, Inc., an independent broker-dealer with 3,000+ representatives nationwide.

Clients can pay a fee-only or hourly rate based on wealth management and financial and retirement planning needs. Smaller accounts, such as Roth IRAs, 403b accounts, or 529 college savings plans, may require commission-based payments.

The first appointment can be in person, by phone, or via Zoom. Subsequent meetings can be a mix of in-person, phone, email, or Zoom.

Broker vs Advisor: Key Differences | Tim Hayes Financial Advisor

Summary: Explore differences between commission-based reps & registered financial advisors in Tim Hayes' post. Learn impact of recent SEC regulations on advisor standards.

Difference Between Investment Advisor Representative (IAR) vs Registered Representative

Many financial advisors are registered as both registered representatives of a broker-dealer and as investment-advisor representatives (IAR) of an investment advisor.

Investment advisors are fiduciaries who owe the client a higher oath of loyalty. They must act in their clients’ best interest and disclose any conflicts of interest.

Registered representatives are not fiduciaries. The advice they offer the client must suit the client’s particular situation. However, they do not have to disclose any conflicts of interest.

What is an ERISA Fiduciary Advisor and How Are They Different?

If that is not confusing enough, there is a third standard, a fiduciary advisor who falls under ERISA, the law governing retirement and pension plans. Unlike investment advisors who can have conflicts of interest as long as these are disclosed, an ERISA fiduciary advisor must eliminate all conflicts.

Wealth Management Services: Fee vs. Commission-Based Options for Clients

I do most of my wealth management business (90%) as an investment advisor representative (fiduciary). I charge the client a level or a fee only, usually based on their portfolio’s size and complexity.

If the client has a smaller account, such as a Roth IRA or a 529 Plan, or is a teacher saving in a 403(b) plan, I opt to receive commissions as a registered representative. Most of these clients end up paying less with a commission-based product. Moreover, maybe they do not need as much time as those who pay an annual fee.

SEC Study on Fiduciary Standard Under Dodd-Frank Act

​Under the 2010 Dodd-Frank Act, Congress directed the Securities and Exchange Commission (SEC) to study the need for establishing a new, uniform federal fiduciary standard of care for brokers and investment advisors.

Having a uniform standard would make it easier for investors, as many are unaware that there are two standards and that the same financial advisor could wear both hats.

Regulation Best Interest: Changes for Broker-Dealers and Financial Professionals

Beginning June 30, 2020, broker-dealers will start operating under a new standard called Regulation Best Interest. This requires brokers to better align their interests with those of their clients by eliminating conflicts of interest, such as proprietary product requirements, sales quotas, or sales contests.

Registered representatives will now be called financial professionals. Any advisors who are fiduciaries can continue calling themselves financial advisors.

Some critics complain that the new standard does not meet the uniform standard’s original intent.

A – Professional Investment and Insurance Near Me
  • Abington 
  • Acton
  • Amesbury 
  • Andover
  • Arlington 
  • Ashland 
  • Attleboro 
  • Avon 

B – Professional Investment and Insurance Near Me

  • Bedford 
  • Bellingham
  • Belmont 
  • Beverly – I grew up in Beverly
  • Billerica 
  • Boston – I Live in the South End
  • Boxford 
  • Braintree
  • Brookline

C – Professional Investment and Insurance Near Me

  • Cambridge
  • Canton 
  • Carlisle 
  • Carver 
  • Chelmsford 
  • Cohasset
  • Concord 

D – Professional Investment and Insurance Near Me

  • Danvers 
  • Dartmouth – I have an office in S Dartmouth
  • Dedham 
  • Dover
  • Duxbury

E – Professional Investment and Insurance Near Me

  • Edgartown

F – Professional Investment and Insurance Near Me

  • Fall River 
  • Fairhaven
  • Foxborough 
  • Framingham 
  • Franklin
  • Freetown

G – Professional Investment and Insurance Near Me

  • Georgetown
  • Gloucester 
  • Groton

H – Professional Investment and Insurance Near Me

  • Hamilton
  • Hanover 
  • Harvard 
  • Haverhill – I lived in Haverhill for five years
  • Hingham
  • Holliston 
  • Hopkinton 
  • Hudson 

I – Professional Investment and Insurance Near Me

  • Ipswich 

L – Professional Investment and Insurance Near Me

  • Lexington 
  • Lincoln 
  • Lowell 
  • Lynnfield 

M – Investment and Insurance Near Me

  • Malden 
  • Manchester by the Sea
  • Mansfield 
  • Marblehead – I worked at the Corinthian Yacht Club during college
  • Marion
  • Martha’s Vineyard
  • Marshfield
  • Mattapoisett
  • Maynard
  • Medfield
  • Melrose 
  • Merrimac
  • Methuen 
  • Middleborough 
  • Middleton
  • Milton 

N – Investment and Insurance Near Me

  • Nantucket
  • Natick 
  • Needham
  • New Bedford
  • Newburyport 
  • Newton 
  • North Andover 
  • North Attleborough 
  • Northborough
  • North Reading 
  • Norton 
  • Norwell
  • Norwood

P – Investment and Insurance Near Me

  • Peabody
  • Plymouth 
  • Provincetown

R – Investment and Insurance Near Me

  • Randolph 
  • Reading
  • Revere 
  • Rockland
  • Rockport

S – Investment and Insurance Near Me

  • Salem- I lived in Salem after college
  • Sandwich
  • Saugus 
  • Scituate 
  • Sharon
  • Sherborn
  • Somerville
  • Southborough
  • Stoneham 
  • Stoughton
  • Sudbury 
  • Swampscott

T – Investment and Insurance Near Me

  • Tewksbury 
  • Topsfield
  • Tyngsboro 

W – Investment and Insurance Near Me

  • Wakefield
  • Walpole
  • Waltham
  • Wareham
  • Watertown 
  • Wayland
  • Wellesley 
  • Wenham
  • Westford
  • Weston 
  • Westport 
  • Westwood
  • Weymouth 
  • Wilmington 
  • Winchester
  • Woburn

These are the opinions of Financial Advisor Tim Hayes and not necessarily those of Cambridge Investment Research. They are for informational purposes only and should not be construed or acted upon as individualized investment advice. Content provided via links to third-party sites should not be considered an endorsement of content that we cannot verify completeness or accuracy of.

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Fee-Based Financial Planner, Hourly Rate, or Commission

Most clients pay fee-only or an hourly rate. The size and complexity of the client’s wealth management and financial and retirement planning determine that fee.

Hourly Fee Only

$ 150 /Hour
  • Fee-only Fiduciary Advisor
  • Financial Advisor
  • Financial Planning
  • Advisor Financial Planning

Fee-Only

Varies
  • Fiduciary Advisor
  • Fee Based
  • Fee-Only Financial Planning
  • Financial Planning Services

Commission

Varies
  • Financial Professional
  • Best Interest Regulation

Book a Free Virtual or In-Person Consultation with Tim!

Tim Hayes: Trusted Financial Advisor for Families - Client Testimonials

Bryk Family

Client

"Tim has been our financial advisor for many years. He knows our family and has aligned his expertise with our goals. He has our best interest in mind and goes above and beyond in strategizing our portfolio in this ever changing landscape. We entrust him with three generations in our family and value our relationship."

"Tim Hayes has been a great financial partner for our family! He has been timely and his follow through always reliable! He has given us solid advice, has helped us to make good choices, and has been a source of reassurance and calm when we have needed! We highly recommend Tim!"

The Brodsky Family

Client

Mary Walsh

Client

"As a person whose only association with finance is balancing my checkbook once a month, I am incredibly fortunate to have Tim Hayes as my financial advisor. With the economy in the fluctuating state it has been in recently, if ever I have a question or am just feeling uneasy concerning my investments ,he responds very quickly and what I appreciate most about Tim is that he never ever talks down to me or makes me feel my question is unimportant I would whole heartedly recommend Tim Hayes."

These testimonials are based upon an individual client experience and may not represent the experience of other customers, and should not be considered a guarantee or indication of future performance of success.

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