Fee-based Financial Planners

There are two types of financial planners. The first type is commission-based financial planners. They earn a commission from the financial products sold to clients. In normal practice, they won’t charge you any consultation fees because they get their pay when you sign up for their products.

The other type of planners charge fees only. They are not tied up with any financial products provider, or they are sort of independent that they can source the best products from any company that suits your situation.

Most people believe that there is no conflict of interest to seek fee-based financial planner’s consultation. But in most countries, independent financial planners find it really hard to charge fees only because of the consumers’ low level of awareness.

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