July 6, 2013

What is the difference between a fee-based financial planner and a fee-only financial planner? Why should you care?

2 thoughts on “July 6, 2013”

  1. Thomas Graham says:

    Fee-only would be a financial planner that charges no commission. Fee-based means that the fee is added into the cost of hiring them. You should care because you should never go to a financial planner who is fee-only. They will have a conflict of interest because they are making money off of the fees. You only want to go to a financial planner who is fee-based.

  2. Mike Finley says:

    You were close, Thomas, but not quite there. This video:http://money.cnn.com/video/pf/2012/08/28/pf-fee-advisors.cnnmoney/index.html does a good job in explaining the difference. STAY away from fee-based financial salespeople. If you need financial help and you want someone to assist you, focus on a fee-only planner. When in doubt, DO YOUR RESEARCH and ask a lot of questions.

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