What do you think about when you hear the words “financial advisor”?
High pressure sales techniques, obscure products with hidden fees, secret incentives to agents – the list is long and rather unflattering. How did we get here? And, more importantly, how can you choose the right professional to partner with if you don’t want to undertake managing your own money?
Read MoreWe say it all the time but why exactly does "Fee-Only Make a Difference" mean?Well, it mostly has to do with the compensation structure, called “Fee-Only,” and how it compares to "Traditional" commission based financial planners. It’s this unique way in which Fee-Only financial advisors are paid that allows them to be objective in their advice and avoid conflicts of interest.
Read MoreI have heard this so many times it would be funny if it wasn’t so sad. One of the selling points that commissioned based financial planners tell their prospects is that they don’t have to pay anything to work with them. Sorry, but nobody works for free, and the notion that you can get sound objective financial advice for nothing is ridiculous.
Read MoreThe title of this blog post is the title of an article that I read in Investment News this morning. Basically it is about imposing the Fiduciary standard of care on Broker-Dealers.
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