10 Vital Questions To Ask Your Financial Advisor
7. How much do you charge often?
Ask your advisor to give you an estimation of the amount that you need to pay. This estimated amount will depend on your particular needs and the financial advisor should be able to provide you with an estimate of possible costs based on the work he performed. These costs would include the hourly rates, flat fees, or the percentage that he receives as commission on products that you may purchase as part of the financial planning recommendations.
8. How much commission do you get if I buy this investment?
By asking this question frequently, you will start getting an idea of what you are worth to an advisor annually for instance from the fees you pay or the commissions he or she earns from investment companies. You can make use of this information as a basis for a reduction in advisory fees even if they are higher than those of the general market.
Also, make sure that your financial advisor reveals about the commissions that he receives from product sales or referral fees from other companies or professionals who send him for this business.
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