Chapter 4. Advisor Compensation

It is important to know how your financial advisor gets paid. Though good advisors are not necessarily motivated by money, they are professionals who deserve to get paid appropriately for their time. There is no free lunch. We all love getting something for nothing, but if the advisor is not taking adequate time to get to know you and your particular situation, then the free advice might actually turn out to be quite costly in the end if mistakes are made. I have seen this all too frequently. I would also have to say that most financial advisors look after their own finances pretty well. In many situations clients are unaware that they are actually getting charged because the compensation to the advisor is not ...

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