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The True Cost Of Financial Advice
Manage episode 373153011 series 3423688
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Do you find investment and insurance product fees and commissions confusing? Ever wondered why financial advisors' charges can be unclear? In this episode, we shed light on the different charging models used by investment advisors, brokerage firms, and banks. We discuss the importance of understanding how your advisor gets paid and the potential risks of not asking the right questions.
We also explore why it’s so critical to have a comprehensive retirement plan in place that extends beyond just managing your investments. While you might think that the DIY route will save you money, the potential cost of mistakes could be detrimental.
To wrap up this episode, we break down the difference between a captive and an independent advisor and explain why working with an independent advisor can offer a broader range of options with unbiased, transparent advice.
Here is some of what we’ll discuss in today’s show:
- Financial advisors, investment advisors, and brokerage firms use different charging models. It's essential to understand how your advisor is compensated.
- DIY investing may seem like a cost-effective option, but it comes with risks.
- A well-rounded retirement plan addresses income strategies, tax efficiency, healthcare costs, and transition planning.
- Working with an independent advisor allows for a broader selection of solutions tailored to individual needs.
We can assist you on your journey to financial freedom:
https://www.askfreedomfinancial.com/
205.988.0006
Listen to more content:
https://www.askfreedomfinancial.com/in-the-media/#radio
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