Planners can be paid in several ways: through fees or commissions or a combination of both. As part of your written agreement, your financial planner should make it clear how they will be paid for the services to be provided.
While there is no one method of paying for financial services that is inherently better than another, you will nevertheless want to consider, and discuss with your planner, how the method of compensation could affect the advice you receive or the way you work with the advisor. You and your financial planner should discuss these issues, including any conflicts of interest that may be created by the method of compensation.
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