There is a simple but indisputable truth about the financial advisory and wealth planning industry that Wall Street has held as a "dirty little secret" for years. This dirty and almost always overlooked little secret is HOW YOUR FINANCIAL ADVISORS GET PAID.
You want and deserve objective financial advice in your best interest. The fact is, however, that 99% of the general investment community does not know how their financial advisor in Cecil County will be compensated for the advice they provide. This is a tragic omission, but all too common.
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There are various main financial advisor compensation models such as:
Commission Financial Advisers – These advisors sell "charged" or paid commission products such as insurance, annuities, and loaded mutual funds. You may or may not be notified of the commission your financial advisor receives on your transactions.
Because these advisors are paid a commission, which may or may not be disclosed, and the amount may vary depending on the insurance and investment products they sell, there is an inherent conflict of interest between the financial advice given to you and this financial advisory commission. accept in victory.
Fee-Based Financial Advisor:- This is the "dirty little secret" Wall Street really doesn't want you to know. Wall Street has blurred the lines between the three ways your financial advisor can be compensated, so that 99% of those who invest Public Belief They Are Hiring Advisors Cost-Based Finance is directly concerned with providing "fair, ethical and impartial" financial advice.