Quote Of The Week: The Problem With Commissions

A commissioned salesman is probably not the best person to give you objective and truthful investment guidance.

Our clients know that we work on a fee-only basis. That means we do not accept commissions for recommending, buying or selling investments and we work only for you, our client.

That independence allows us to always deliver to you our expert, objective and unbiased advice.

Of course, not every investment professional can say that. Many are little more than salesmen peddling products on commission. What’s wrong with that? Read what impartial observers at Kiplinger Personal Finance magazine have to say about advisors who work on commission:

“A major drawback of this type of arrangement is that the adviser is rewarded for selling investments that generate the highest commissions and fees, even if they’re not the best choice for you.”

Lisa Gerstner and Sandra Block, “Find the Right Financial Advice at the Right Price,”  Kiplinger Personal Finance

The Takeaway: Personally, we think you deserve better. Before you hire a financial advisor, ask yourself how they are getting paid and whether their “advice” helps you, or them.

About Mari Adam

Mari Adam, Certified Financial Planner™ and President of Adam Financial Associates Inc, has been helping individuals and families chart their financial futures for over twenty-five years. Have a question about your financial situation? Ask Mari!

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