By: Frank Armstrong
By: Frank Armstrong, CFP, AIF
Many “financial advisors” are nothing more than glorified product salespeople. They are paid by commission, and long ago discovered that some products pay higher commissions than others.
These conflicts of interest plague the financial services industry. The traditional model of commission-based compensation invites broker abuse, with clients as their victims.
Fee-only compensation eliminates the exploitation of investors, where quality objective financial advice is the product, and the advisor sits on the same side of the table with the client.
Compensation structure does matter. You may even find that how you pay for financial advice is more important than how much!
Fee-only advisors are synonymous with objectivity, professionalism, service, integrity and complete disclosure. Why would you consider anything else?
If you are considering hiring an investment professional, talk to us. We are feeonly advisors with a global reputation integrity and competence.