What are you charged for financial planning or investment advice?
Posted by admin on May 30, 2009 · 5 Comments
j_m_camilleri asked:
Many financial services providers tout their financial advice as being for free. But we all know nobody does anything for free. Aparently there are a bewlidering number of ways in which investment advisors make their money such as trading commissions, hourly frees, trailer fees, management fees, performance fees and so on.
Many financial services providers tout their financial advice as being for free. But we all know nobody does anything for free. Aparently there are a bewlidering number of ways in which investment advisors make their money such as trading commissions, hourly frees, trailer fees, management fees, performance fees and so on.
I would like to hold an online survey to gauge which methods most Y!Answers users come across and their views on each method or which method their prefer most.
Thanks for taking the time to answer my question.
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investment advice
I am financial cunsultant and mutual fund distributor. i give advice free of cost and i can get low commission, if any one will invest in Mutual funds . i do it as social service
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Many financial advisors will offer free consultations in the hope that you will decide to purchase investmenst products from them.
Although there are many commission-based advsiors who are excellent, there is a growing belief that using a fee-based advisor tends to eliminate any potential conflicts of interest. If an advisor charges a fee- either hourly or based on assets managed (i.e. 1% per year)- then there is no incentive to him to put you in high-commission products for his own gain. There should be no commissions with a fee-based advisor.
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I pay nothing for advice and just use etrade for making any trades
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I would prefer either to pay an hourly rate for thier advise or have them get paid through commission. I work as an analyst and I am a CFA candidate so I do all the homework on my own. I use scottrade do to all my investment transactions.
I don’t use a financial advisor myself, however if I did the last thing I would want is some jerk charging me for AUM. To me that seems like the least ethical way.
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I think it depends on your exact situation I found my financial consultant at.