Quote:
Originally Posted by pepper24
Nope. What I meant was if you deal with an advisor deal with a fee-only planner. When you deal with someone who gets paid on commission you get a conflict of interest. They'll push crappy products like whole life insurance and high fee mutual funds as they get a higher commission, not necessarily because they are the best products for your financial goals.
That's not to say that they're all bad and I probably could have left out the greasy part.
|
Obviously you've just heard the bad, or dealt with bad advisors. The reality is that almost every mutual fund pays the exact same for me, so there is no incentive for me to push people to one fund over another . Most advisors operate in that manner.
As far as the life insurance comment, this is just plain wrong if you get a good advisor to begin with. I almost always sell people the cheapest insurance policies because its the right thing to do, not because of the amount of commission I make. My entire goal is to do whats best for peoples financial goals...so that is a moot point.