We would like to quickly touch on the topic of being a Fee-Only or Commission-Based financial advisor . As you know we highly recommend doing everything in your power to convert to Fee-Only for several reasons. Reasons like:
1. Recurring Income from management fees instead of one upfront commission payout that gives you little to no incentive to continue servicing your clients and properly managing their accounts.
2. Limiting or removing the temptation to sell products that yield you a high commission all while being horrible for your clients.
3. Entering into and maintaining an ongoing mutually rewarding relationship with your clients that will allow your financial practice to flourish because your client’s accounts are flourishing.
If you have any further thoughts, questions or comments please feel free to add to this discussion.
We look forward to your input.