Financial Advisor Compensation
As you choose a financial advisor, you should fully understand how they get paid. Advisors who receive commissions are salespeople and often operate under a conflict of interest. Advisors whose only compensation comes from the client is a true advisor whose goals and objectives align with the client. Click the DOWNLOAD button for the 3 types of advisor compensation.
Fiduciary vs Suitability Standards
Fiduciary Standard: An advisor operates under a duty of care and loyalty that puts the clients' best interests above the advisor. Follow the link to read Investopedia's definition of Fiduciary.
Suitability Standard: Motivated by sales quotas, the advisor’s duty is to the brokerage firm that he or she is affiliated with, not necessarily the client served. Follow the link to read Investopedia's definition of Suitability.
Think Doctor vs. Pharmaceutical Rep The pharmaceutical rep is there to sell specific products. A doctor follows the Code of Medical Ethics to offer the best solutions for the patient.
Financial Advisor Check
It's easy to check online if the advisor and the advisory firm has any complaints filed against them. Click the links below to begin your search.
- Financial Industry Regulatory Authority
- Securities and Exchange Commission
- Any state/regulatory agencies
Make sure your money is working to its fullest potential so that you can rest assured that you are creating a path to a meaningful life, stable wealth, and a lasting legacy."Roof Advisory Group