There's an easy but undeniable reality in the financial consulting and wealth preparing market that Wall Road has held as a "dirty small secret" for years. That dirty small, and nearly always neglected key is THE WAY YOUR FINANCIAL ADVISOR IS PAID DIRECTLY AFFECTS THEIR FINANCIAL ADVICE TO  west palm beach financial advisor!

You need, and deserve (and subsequently SHOULD EXPECT) unbiased economic assistance in your very best interests. But truth be told 99% of the general trading public has no strategy how their financial advisor is compensated for the assistance they provide. This is a tragic error, however an all also popular one. You can find three basic payment designs for financial advisors - commissions centered, fee-based, and fee-only.

Commission Based Economic Advisor - These advisors provide "loaded" or commission paying items like insurance, annuities, and packed mutual funds. The commission your financial advisor is earning in your transaction may possibly or may not be disclosed to you. I say "transaction" because that's what commission based economic advisors do - they help TRANSACTIONS. After the transaction is finished, maybe you are fortunate to listen to from them again since they've already gained the majority of whatever commission they were planning to earn.

Since these advisors are compensated commissions which can or may not be disclosed, and the amounts can vary based on the insurance and expense products they offer, there's an natural conflict of curiosity about the financial assistance provided to you and the commission these economic advisors earn. If their income is determined by transactions and offering insurance and expense products and services, THEY HAVE A FINANCIAL INCENTIVE TO SELL YOU WHATEVER PAYS THEM THE HIGHEST COMMISSION! That's not saying there aren't some honest and honest commission centered advisors, but obviously this discovers a conflict of interest