There is an easy but undeniable reality in the financial consulting and wealth planning business that Wall Road has held as a "dirty little secret" for years. That dirty small, and usually ignored secret is THE WAY YOUR FINANCIAL ADVISOR IS PAID DIRECTLY AFFECTS THEIR FINANCIAL ADVICE TO YOU!  west palm beach financial advisor

You want, and deserve (and therefore SHOULD EXPECT) neutral economic advice in your absolute best interests. But truth be told 99% of the overall investing community doesn't have idea how their economic advisor is compensated for the advice they provide. This is a tragic oversight, yet an all too frequent one. You will find three basic settlement designs for economic advisors - commissions centered, fee-based, and fee-only.

Commission Centered Financial Advisor - These advisors sell "loaded" or commission paying products and services like insurance, annuities, and loaded good funds. The commission your financial advisor is earning on your purchase might or may not be disclosed to you. I say "transaction" since that's what commission based financial advisors do - they help TRANSACTIONS. After the purchase has ended, you might be lucky to know from their store again because they've presently received the majority of whatsoever commission they were planning to earn.

Because these advisors are paid commissions which might or might not be disclosed, and the quantities may vary on the basis of the insurance and expense services and products they sell, there is an inherent struggle of curiosity about the financial guidance provided for your requirements and the commission these economic advisors earn. If their money is determined by transactions and selling insurance and expense services and products, THEY HAVE A FINANCIAL INCENTIVE TO SELL YOU WHATEVER PAYS THEM THE HIGHEST COMMISSION! That's not to say there aren't some straightforward and moral commission centered advisors, but clearly this discovers a struggle of interest.