I was doing a little research this morning and found an excellent article on the Fool.com about the Broker/Dealer model (e.g. Edward Jones), and the inherent conflict of interest associated with this model. The article is from December from 2012 but still very relevant. It is a bit longer then the standard online article but well worth the read, especially if you are considering working with a commission based advisor (broker/dealer).
Phillip James is a Fee-Only Financial Planning company and a Fiduciary, which means we are never paid a commission or other fee that would create a conflict of interest. We act in the best interest of the client not what will give us the largest commission check.