Are they the same thing with different names, do they provide different services? I’m coming into some extra money soon and I want to make wise choices with it. I’d also appreciate any tips on how to find a good one. What’s the average fee for one?
In: Economics
The key word is fiduciary.
Advisors/Planners who are fiduciaries are required to act in your best interests, and typically charge fee for service.
Most free financial planners/advisors are really insurance salespeople in disguise.
Some try to help you optimize your investments to meet your goals, based on age and risk tolerance, etc. Others are more salespeople trying to sell you various financial service products like insurance and annuities. You want a FIDUCIARY financial person, as those are the ones who’s primary goal is your best financial interests.
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