You need, and deserve (and consequently SHOULD EXPECT) fair economic advice in your best interests. But the truth is 99% of the general investing community doesn't have idea how their financial advisor is compensated for the advice they provide. This is a destructive oversight, however an all too popular one. You will find three simple compensation versions for economic advisors - commissions based, fee-based, and fee-west palm beach financial advisor.

Commission Based Financial Advisor - These advisors promote "loaded" or commission spending products and services like insurance, annuities, and loaded good funds. The commission your economic advisor is making on your own exchange may or might not be disclosed to you. I claim "transaction" since that's what commission based economic advisors do - they aid TRANSACTIONS. When the transaction is over, perhaps you are happy to hear from their website again since they've already received the bulk of whatever commission these were likely to earn.

Since these advisors are compensated commissions that might or may possibly not be disclosed, and the amounts can vary greatly based on the insurance and expense products and services they sell, there's an natural conflict of curiosity about the financial advice provided to you and the commission these economic advisors earn. If their revenue is determined by transactions and selling insurance and expense products and services, THEY HAVE A FINANCIAL INCENTIVE TO SELL YOU WHATEVER PAYS THEM THE HIGHEST COMMISSION! That's not to imply there aren't some sincere and honest commission based advisors, but obviously that determines a struggle of interest.

Charge Based Financial Advisor - Here's the actual "dirty little secret" Wall Street doesn't want you to learn about. Wall Road (meaning the firms and businesses involved with getting, offering, or handling assets, insurance and investments) has enough blurred the lines between the three methods your financial advisor might be compensated that 99% of the investing community believes that selecting a Fee-Based Economic Advisor is directly correlated with "honest, ethical and unbiased" financial advice.

The fact remains FEE-BASED MEANS NOTHING! Consider it (you'll understand more whenever you learn the next kind of compensation), all fee-BASED means is your economic advisor can take charges AND commissions from offering insurance and investment products and services! So a "base" of these settlement might be linked with a share of the assets they control on your behalf, then the "icing on the cake" is the commission revenue they are able to perhaps earn by offering you commission driven investment and insurance products.