There is a straightforward but undeniable reality in the economic visiting and wealth planning business that Wall Road has held as a "dirty little secret" for years. That filthy small, and often neglected secret is THE WAY YOUR FINANCIAL ADVISOR IS PAID DIRECTLY AFFECTS THEIR FINANCIAL ADVICE TO west palm beach financial advisor!

You need, and deserve (and subsequently SHOULD EXPECT) neutral financial assistance in your very best interests. But truth be told 99% of the general trading public has no thought how their economic advisor is compensated for the assistance they provide. This can be a tragic error, however an all too frequent one. You can find three simple settlement designs for economic advisors - commissions centered, fee-based, and fee-only.

Commission Centered Economic Advisor - These advisors offer "loaded" or commission spending services and products like insurance, annuities, and filled good funds. The commission your economic advisor is getting in your transaction may or might not be disclosed to you. I state "transaction" since that's what commission based economic advisors do - they facilitate TRANSACTIONS. Once the exchange is finished, you may be happy to know from their website again because they've presently received the bulk of whatsoever commission they were going to earn.

Because these advisors are paid commissions that might or may not be disclosed, and the quantities may vary on the basis of the insurance and investment products they sell, there is an natural struggle of curiosity about the economic advice provided for you and the commission these economic advisors earn. If their revenue is dependent on transactions and selling insurance and investment items, THEY HAVE A FINANCIAL INCENTIVE TO SELL YOU WHATEVER PAYS THEM THE HIGHEST COMMISSION! That's not to imply there aren't some honest and honest commission based advisors, but clearly this identifies a conflict of interest.