Interact Financial

Fee-Only or Commission-Based Financial Planning in Victoria

Your choice of how you pay, with clear, honest advice from a CFP® professional.

By Dan Anders, CFP®, TEP · Updated October 2026

Most planners give you one way to pay. With me, you choose: work on a fee-only basis, where you pay me directly and I earn no commissions, or on a commission basis, where there’s no direct fee for advice. Either way, you get the same thing: clear advice and a written financial roadmap built around your goals.

I’m Dan Anders, a CFP® professional and Trust and Estate Practitioner (TEP) based in Victoria, BC. I’ve helped families, retirees and business owners plan their finances since 1983. We guide, you decide.
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Why clients in Victoria work with me
  • Your choice of how you pay: fee-only or commission-based, explained in writing before any work begins
  • 40+ years of experience with retirement, estate and business succession planning
  • CFP® and TEP credentials, plus Smith Manoeuvre Certified Professional™
  • Free first consultation, with no obligation to buy anything
  • Serving Greater Victoria, Vancouver Island, British Columbia, Alberta and the Northwest Territories
On this page:

Two Ways to Work With Me: You Choose How You Pay

Some people prefer to pay a planner directly. Others would rather not pay out of pocket for advice. I offer both, and I’ll help you decide which suits your situation.

Option 1: Fee-only financial planning

You pay me directly for advice, as a flat fee for a written plan or an hourly consultation. On a fee-only engagement, I receive no commissions from product providers. Fee-only work is available for:
  • Comprehensive financial plans: a complete written roadmap covering retirement income, tax, estate and insurance
  • Retirement income plans: CPP and OAS timing, plus RRSP, TFSA and pension withdrawal strategies
  • Estate plan reviews: wills, powers of attorney, beneficiary designations, trusts and probate planning
  • Insurance audits: an independent second opinion on the coverage you already have
  • Business planning: succession, employee benefits and risk management for business owners
  • Smith Manoeuvre™ assessments: whether converting your mortgage into investment debt suits you
  • Hourly consultations: focused advice on a specific question, or a second opinion on an existing plan
Trusted Fee-Only Financial Planner

Option 2: Commission-based advice

There’s no direct fee for advice. If you choose to buy insurance or investment products through me, the product provider pays me a commission, which can include ongoing commissions. This often suits people who need coverage or investments and would rather keep their money working than pay a planning fee upfront. One experienced professional handles both the advice and putting it into place.
Fee-only Commission-based
How I'm paid By you, directly By the product provider, if you buy through me
Upfront cost A planning fee, agreed in writing first Typically none for the advice
Best suited to Second opinions, insurance audits, complex one-time planning, people who want advice kept separate from products People who need insurance or investments and prefer no separate advice fee
Disclosure Fee agreed in writing before work begins What I'll earn, disclosed before you decide
Fee-only
Commission-based
How I'm paid
By you, directly
By the product provider, if you buy through me
Upfront cost
A planning fee, agreed in writing first
Typically none for the advice
Best suited to
Second opinions, insurance audits, complex one-time planning, people who want advice kept separate from products
People who need insurance or investments and prefer no separate advice fee
Disclosure
Fee agreed in writing before work begins
What I'll earn, disclosed before you decide
Whichever you choose: your first consultation is free, you’ll know how I’m paid before you commit to anything, and you’re never required to buy a product from me.
Find Out Which Option Suits You

How I Can Help: What Your Financial Plan Covers

A good written plan looks at your whole financial picture, not just your investments. (See all my financial planning services.)

Retirement income planning: when to start CPP (as early as 60 at a reduced amount, or as late as 70 for a permanently higher one) and OAS (from 65, deferrable to 70), how to draw down RRSPs, TFSAs and non-registered savings, and converting your RRSP to a RRIF by December 31 of the year you turn 71. Learn more about retirement planning in Victoria.

Tax planning: income splitting, the timing of withdrawals, and reducing tax over your lifetime, not just this year.

Estate planning: wills, powers of attorney, representation agreements, beneficiary designations and trusts. In BC, probate fees are $6 per $1,000 of estate value between $25,000 and $50,000, and $14 per $1,000 (1.4%) above $50,000, plus a $200 court filing fee. They’re calculated on the gross value of BC assets, before debts. A $500,000 estate, for example, pays about $6,450 in probate fees plus the filing fee. Good planning can often reduce what passes through probate. Learn more about estate planning in British Columbia.

Insurance review: a second look at the coverage you already have and any gaps. You can act on it with me or with anyone else. Learn more about life life insurance in Victoria.

Business owner planning: succession, paying yourself as salary or dividends, employee benefits, and preparing a business for sale.

The Smith Manoeuvre™: as a Smith Manoeuvre Certified Professional™, I can assess whether gradually converting your mortgage into investment debt, where the interest may be tax-deductible under Canada Revenue Agency rules, makes sense for you. It involves borrowing to invest, so investment losses and interest-rate changes are real risks. It isn’t right for everyone, and we’ll look at those risks honestly before you decide.

Who I Work With

  • Pre-retirees and retirees who want a clear, tax-efficient income plan
  • Business owners planning succession, a sale, or how to pull money out of a corporation
  • Families with significant assets who want to preserve their estate and pass it on smoothly
  • Financial advisors who bring me in for estate and insurance planning on behalf of their own clients
From my office in Victoria, I work with clients throughout Greater Victoria (including Saanich, Oak Bay, Langford, Colwood and Sidney), across Vancouver Island, and throughout British Columbia, Alberta and the Northwest Territories. Whether you’re looking for a fee-only financial advisor in Victoria, BC, or prefer commission-based advice, the first step is the same: a free, no-obligation conversation about your goals.

How the Process Works: "We Guide, You Decide"

  1. Free discovery consultation. We talk about your goals and your situation, and I explain both ways of working with me. No obligation.
  2. Choose how you’d like to work. Fee-only or commission-based. If you choose fee-only, I’ll confirm the fee in writing before any work begins.
  3. Gathering information. You share statements, pension details, tax returns, insurance policies and your will, if you have one.
  4. Your customized financial roadmap. I design a plan around your goals, covering retirement income, tax and estate planning, and set out my recommendations clearly.
  5. Review meeting. We go through every recommendation and the reasoning behind it. You decide what to act on.
  6. Turning plans into action, and staying on track. Act on the plan yourself, with your existing advisor, or with my help. I then monitor your progress and review the plan as your life and the tax rules change.
Start With a Free Discovery Consultation
Estate Planning

Meet Your Planner: Dan Anders, CFP®, TEP

Quick facts
  • Planner: Dan Anders, CFP®, TEP, Smith Manoeuvre Certified Professional™
  • Experience: In financial planning since 1983, first in Alberta and on the West Coast since 1999
  • Office: 3450 Uptown Blvd, Victoria, BC V8Z 0B9
  • Clients served in: Greater Victoria, Vancouver Island, British Columbia, Alberta and the Northwest Territories
  • Ways to work together: Fee-only or commission-based
  • First consultation: Complimentary, no obligation
  • Phone: +1 (604) 318-9161
I entered financial planning in 1983 in Alberta and moved my practice to the West Coast in 1999, keeping many of my Alberta clients. Over four decades I’ve worked with successful families, small business owners and the professionals who advise them, mostly on the hardest problems: excess taxation, estate preservation and business succession. Read more about me.
My credentials and standards:
  • CFP® (Certified Financial Planner): a widely recognized financial planning designation in Canada, granted by FP Canada™. It requires education, an exam, work experience, and ongoing ethics and continuing-education rules. Learn more about working with a Certified Financial Planner in Victoria.
  • Client First: as a CFP® professional, I’m bound by FP Canada’s Standards of Professional Responsibility, whose Code of Ethics requires CFP professionals to put the client’s interests first, whether I’m working fee-only or on commission.
  • TEP (Trust and Estate Practitioner): granted through STEP Canada, part of the international professional body for trust and estate specialists.
  • Smith Manoeuvre Certified Professional™

As heard on: Tax Talk Podcast, Episode 29, “Better Mortgage Insurance Protection” (September 2023).

Verify me yourself. You shouldn’t take any planner’s word for their credentials, including mine. You can check CFP® professionals in FP Canada’s “Find a CFP Professional” directory, and trust and estate practitioners in the STEP Canada member directory.

What Clients Say

I really like Dan's patient and thorough approach. We were in the room for 2 1/2 hours while going over every detail and question that my clients could possibly ask. The financial planning process made this decision easy for them.
R.H., Vancouver, BC
I was very impressed by the concise manner Dan dealt with my estate planning… You were attentive to my concerns and addressed them in your recommendation.
V.L., North Vancouver, BC
Dan was able to assess the client's situation with a knowledge and confidence that really resounded with my clients.
E.P., Vancouver, BC

Fee-Only vs Commission vs Fee-Based: What's the Difference?

Key takeaways
  • A fee-only planner is paid only by clients. A commission-based planner is paid by product providers when you buy a product.
  • Published Canadian industry sources put a comprehensive fee-only plan at roughly $1,500–$5,000, and hourly advice at roughly $150–$400.
  • Neither model is automatically better. Qualifications, honest recommendations and full disclosure matter most.
  • British Columbia doesn’t restrict who can use the title “financial planner,” so check credentials before you hire anyone.
  • With me, you choose: fee-only or commission-based, explained in writing before any work begins.
The three main ways Canadian planners are paid have similar names, but they work differently:
Model Who pays the planner Advantages What to watch for
Fee-only / advice-only You, and only you Advice kept completely separate from products; clear, upfront cost You pay even if you don't act on the plan; you may still need a licensed advisor to buy insurance
Commission-based Product providers No out-of-pocket fee for advice; one professional handles both the advice and putting it into place Pay depends on products bought, so ask what the advisor earns on each recommendation
Fee-based You pay a fee, and the planner may also earn commissions Ongoing service combined with access to products Make sure you understand both parts of the cost
Model
Who pays the planner
Advantages
What to watch for
Fee-only / advice-only
You, and only you
Advice kept completely separate from products; clear, upfront cost
You pay even if you don't act on the plan; you may still need a licensed advisor to buy insurance
Commission-based
Product providers
No out-of-pocket fee for advice; one professional handles both the advice and putting it into place
Pay depends on products bought, so ask what the advisor earns on each recommendation
Fee-based
You pay a fee, and the planner may also earn commissions
Ongoing service combined with access to products
Make sure you understand both parts of the cost

“Advice-only” usually describes a fee-only planner who gives advice but doesn’t manage investments.

In short: no model is right for everyone. What matters is that your planner is qualified, recommends what fits your situation, and tells you clearly how they’re paid.

How Much Does a Fee-Only Financial Planner Cost in Victoria, BC?

According to published Canadian industry sources, a comprehensive written financial plan from a fee-only or advice-only planner typically costs roughly $1,500 to $5,000, and hourly advice roughly $150 to $400 per hour. Ongoing retainers are priced on how complex your situation is.
The biggest factor in price is complexity, not your net worth. Each of these adds work:
  • Owning a business or a professional corporation
  • Rental or recreational properties
  • Trusts, a blended family, or a family member with special needs
  • Cross-border income or assets
  • A business sale or succession in the next few years
What fee-only planning costs with me: fees depend on the scope and complexity of your situation. After your free consultation, I’ll quote the fee in writing before any work begins, so there are no surprises. If you choose commission-based advice instead, there’s no direct fee, and I’ll disclose what I’d earn on any product before you decide.
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Fee-Only or Commission-Based: Which Is Right for You?

Fee-only is often the better fit if you:

  • Want a second opinion on an existing portfolio, plan or insurance policy
  • Have complex, one-time planning needs, such as a business sale, an estate plan or retirement income timing
  • Prefer to keep advice completely separate from any product purchase
  • Plan to carry out the recommendations yourself or with your existing advisor

Commission-based is often the better fit if you:

  • Need life, disability, critical illness or long-term care insurance, or new investments
  • Would rather not pay a separate fee for advice
  • Want one professional to handle both the plan and putting it into place

Paying for planning advice may be less useful if your finances are simple (one income, a workplace pension, no property or business). A short hourly consultation may be all you need.

Not sure? That’s exactly what the free first consultation is for.

How to Choose a Financial Planner in BC: A Checklist

Ontario and Saskatchewan have passed laws that restrict who can call themselves a “financial planner.” At the time of writing, British Columbia has not passed similar legislation, so anyone in BC can use the title. Before you hire anyone, check:
  • Credentials: look for CFP® or another recognized designation, and verify it in the issuing body’s directory.
  • How they’re paid: ask for it in writing. Fee-only, commission-based and fee-based all mean different things.
  • Licences: anyone selling insurance or investments must be licensed for those products in your province.
  • Standards: ask which professional and regulatory standards they’re bound by, and how they handle conflicts of interest.
  • Specialty: make sure their experience matches your needs: retirement, business, estates, or all three.
  • Clear recommendations: you should understand what’s being recommended and why, not just receive a product application.
  • No pressure: a good planner is comfortable with you taking time to decide.
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Frequently Asked Questions

A fee-only financial planner is paid only by their clients, through a flat fee, an hourly rate or a retainer. They earn no commissions from product providers, so their advice isn’t tied to selling you anything.
Yes. You can choose fee-only planning, where you pay me directly and I earn no commission, or commission-based advice, where there’s no direct fee and the product provider pays me if you buy insurance or investments through me. Your first consultation is free.
It depends on the scope and complexity of what you need, from an hourly consultation to a comprehensive written plan. After your free consultation, I’ll quote the fee in writing before any work begins.
Comprehensive financial plans, retirement income plans, estate plan reviews, insurance audits, business planning, Smith Manoeuvre™ assessments and hourly consultations.
Yes. For example, you might pay a planning fee for a written plan, then decide whether to buy any recommended insurance through me or elsewhere. If you buy through me, that part is commission-based, and I’ll disclose what I’d earn before you decide.
No. Commission-based advice is common in Canada and can be the right choice, especially if you need insurance or investments and would rather not pay separately for advice. The key is disclosure: a good advisor tells you what they earn before you decide, and recommends only what fits your needs.
It depends on your situation. Fee-only suits people who want advice kept separate from products, or a second opinion. Commission-based suits people who need products and prefer no upfront fee. I’ll help you weigh both at your free consultation.
Fee-only planners are paid only by you. Fee-based planners charge a fee and can also earn commissions on products they sell. Always ask a planner to explain how they’re paid, in writing.
Published Canadian industry sources put a comprehensive financial plan at roughly $1,500 to $5,000 and hourly advice at roughly $150 to $400, depending on complexity. Business ownership, properties, trusts and cross-border assets usually increase the cost.
Not automatically. Canada has no single rule that makes every financial planner a fiduciary. CFP® professionals must put clients’ interests first under FP Canada’s Code of Ethics. Separately, since 2021, the Canadian Securities Administrators’ Client Focused Reforms have required securities-registered advisors to address material conflicts of interest in the client’s best interest. Ask any planner which standards apply to them.
Yes. I work with clients throughout Greater Victoria and Vancouver Island, and across British Columbia, Alberta and the Northwest Territories.
We talk about your goals, your current situation and what kind of help you need, and I explain both ways of working with me, fee-only and commission-based. There’s no cost and no obligation.

Ready to Talk?

Book a complimentary, no-obligation consultation. We’ll look at your situation, I’ll walk you through both ways of working together, and you can decide what makes sense for you.
Book Your Free Consultation
Call +1 (604) 318-9161
3450 Uptown Blvd, Victoria, BC V8Z 0B9
Sources (accessed October 2026): Fee ranges from WealthNorth, Greenline and Boomer & Echo. BC probate fees from the Province of British Columbia’s Probate Fee Act. Title protection from the Financial Services Regulatory Authority of Ontario (FSRA). CFP® certification and the Code of Ethics from FP Canada. The TEP designation from STEP Canada. Conflict-of-interest rules from the Canadian Securities Administrators (Client Focused Reforms). CPP, OAS and RRIF rules from the Government of Canada.
This page is general information, not personal financial, tax or legal advice. Tax rules, government benefits and probate fees change, so get advice for your own situation before acting. Fee ranges are general Canadian market estimates from published industry sources, not a quote. Insurance and investment products are provided through licensed product providers, and any commission is disclosed before purchase.