What is Fee-Only Financial Planning?

As a fee-only establishment, Saltwater Harbor is compensated solely by our clients. There are no payments contingent on the sale of a financial product, no commissions, no bonuses. We are here solely for our clients, not the possibility of what we may be able to sell to them. We are one of the only financial practices that does not require a minimum net worth, amount invested or the custody of your assets in order to help you. We believe that everyone deserves the possibility of a financial future, regardless of their current situation. Adopting a fee-only model allows us to be accessible to nearly every individual seeking guidance. We work by the hour and you pay us only for the work we do for you. Nothing makes us more proud than seeing our client’s dreams and wishes come true. Your needs will always come first at Saltwater Harbor Financial.

Who Do We Work With?

Our fee-only model allows us the amazing opportunity to work with an extremely wide range of individuals, all at different points in their financial growth.

Below are some of the types of individuals we service:

  • Recipients of inheritances of any size
  • High Wealth-individuals
  • Middle Class-individuals
  • Impoverished individuals looking to change their financial course
  • Individuals experiencing a career change
  • Individuals looking to roll over retirement savings into self-directed IRAs
  • Individuals looking for assistance with small financial planning tasks
  • Individuals looking for full service comprehensive financial planning
About Eric Simonds, CFP® MsFP
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Eric Simonds CFP® has a passion for helping others. Over the past 15 years, Eric has gained his skills and credentials through both private and public sector careers in finance, policy and compliance. This experience, in addition to his Masters of Financial Planning from Golden Gate University, allows him to provide quality financial planning to all Maine families through Saltwater Harbor. Eric takes great pride in operating his own financial planning practice, knowing he makes a difference in the lives of his clients. His motivation for success is fueled by his clients’ accomplishments and ability to achieve their financial dreams with his guidance.  “We Grow Together™” is not only the firm’s motto but also a core belief of Eric Simonds CFP®.

Eric is a Certified Financial Planner™, one of the founding member of the Maine Senior Education Collective, a Former President of Freeport Think Local, currently works with several non-profits and is the past Secretary of the Board of Directors for the oldest corporation in the State of Maine, Beta Housing, Incorporated. In addition he is a contributor to many media outlets and has had the honor of having his writings appear in Parent and Family, My Generation and Maine Magazine. Eric hosts a weekly show (The Midcoast Money Memo) WCME 900AM as well as on Derek Volk’s Box Talk Radio. In addition, Eric is the ONLY fee-only financial planner in Maine with no account minimum requirement to utilize the “assets under management” compensations model. His philosophy of the advisor and client growing successful together permeates all aspects of his life and financial advisory practice.

Eric is both a 2011 National Huguenot Scholarship recipient and the sole 2012 National Association Professional Financial Advisors Merit Scholar. In addition to his Masters in Financial Planning, Eric has a second Masters Degree in Public Policy and Management as well as Bachelor degrees from both the University of Maine and the University of Southern Maine. Highly involved in his local community and family, he resides in Brunswick with his wonderful wife, Kate, their two amazing sons, one naughty dog and a cat.


Why CFP® Certification Matters