Inverview with George Marotta: NAPFA and being a fee-only fiduciary

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George Marotta

Marotta Money Management was the firm you started in California before Marotta Wealth Management was started in Charlottesville, Virginia. When did you found Marotta Money Management?

I founded Marotta Money Management with my wife June in 1985. The previous two years we studied the financial planning process through classes in Palo Alto offered by the University of Southern California. Through the College for Financial Planning, we passed individual examinations in investing, insurance, taxes, retirement finance and the overall planning process and received our Certified Finanacial Planning designation in 1985. We started our firm with the idea and objective of helping other people achieve the success we personally enjoyed from our financial knowledge and planning.

Why did you decide to be fee-only and become part of the National Association of Personal Financial Advisors (NAPFA)?

Right from the beginning of starting our firm we decided to offer advice for a fee only and not broker or sell products based on earning a commission. After being in business a short time when we learned there was an organization based on our philosophy, we joined the National Association of Personal Financial Advisors.

What do you think a NAPFA firm offers to consumers who are trying to find an investment advisor they trust?

A fee-only firm offers clients an advisor who “sits on the same side of the table” as the clients. By not using products that yield a commission, the client knows that the advisor will seek to keep the clients interest in mind and to pick the investments that will yield the best results at the least expenditure.

Why do you recommend this should be one of the questions consumers ask a potential advisor: Is the fee I pay you the only compensation you receive?

Asking that question, “Is the fee that I pay you the only compensation your receive?“, assures the client that there are no conflicts of interest in our investment selections.

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Founder

George Marotta served in the U.S. Army in the Pacific, graduated from Syracuse University, worked in U.S. foreign affairs and Stanford's Hoover Institution, and founded a financial firm in Palo Alto. He is mentor and father of David Marotta.

One Response

  1. Richard Steven Gregg
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    Great George….keep up the good work…and have some fun too…you earned it !

    Steve