How Financial Advisors Get Paid

One of the first questions that anyone asks before working with a financial advisor is how do you get paid? It's a great question because there are different fee structures, and understanding what each means can help you choose the right type of service for your needs. In this episode, we'll down the different ways that advisors get paid and the types of clients often drawn to these different types of advisors. We'll break down the four main categories of financial advisory services: do-it-yourself, product-based, fee-for-service, and partnership. So whether you're a DIY investor, need a specific financial product, seek comprehensive planning, or want a long-term partnership, this episode will guide you through the pros and cons of each option. Ultimately, it's important that you build a true partnership with your financial advisor and we hope this show helps make that easier.   Here's some of what we discuss in this episode: The four types of clients in financial planning. How commission-based payments work. Payment by way of a planning fee and how this is structured. How the relationship between advisors and clients is a genuine partnership. Advisors who are paid a fee based on how a portfolio performs.   Contact: If you have any questions, call 215-513-4330 or visit https://www.kempharvest.com/