What is “fee-only” in the context of a Registered Investment Advisor (“RIA”)?

Definition: Fee-only commonly refers to when a financial advisor is singularly paid via a fee from the client, and does not generate product or transactional commissions of any kind.

When used in an RIA context: “The RIA is 100% fee-only in how they charge for their services.”

See also: Episode #31, fee-based