When you visit the doctor, you expect to receive an honest opinion and diagnosis. If your doctor recommends medicine or treatment, you have the comfort of knowing he isn’t trying to sell you on a certain brand of medication or suggest a treatment that isn’t in line with your personal health.
Like your health, your finances are personal and unique. Your situation and goals are different than others. Just as you want your doctor to offer objective advice tailored to your health, you want your financial advisor to be unbiased when managing your wealth. At Financial Guideposts, we believe it is important to understand whether or not your advisor is objective.
In the financial services industry, there are two main types of advisors: fee-based advisors and commission compensated advisors. Edward Jones, Merrill Lynch, and similar investment firms are largely commission-based.
