When it comes down to choosing a financial adviser, you'll want to choose someone who has your best interests in mind
There are two types of financial advisers: fee-only and fee-based. Fee-only financial advisers work on a fixed rate, and are paid solely by client fees. A fee-based financial planner gets commissions based on plans or policies sold to a client. Fee-only financial planner John Pak says there are two ways to get clear on how your financial adviser is paid: Ask for a fiduciary statement promising they'll always put you first, and ask for a compensation plan to see how they earn money.
There are two types of financial advisers: fee-only and fee-based. Fee-only financial advisers work on a fixed rate, and are paid solely by client fees. A fee-based financial planner gets commissions based on plans or policies sold to a client. Fee-only financial planner John Pak says there are two ways to get clear on how your financial adviser is paid: Ask for a fiduciary statement promising they'll always put you first, and ask for a compensation plan to see how they earn money.
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