What does an independent financial advisor do?
A financial advisor helps you identify your financial goals and what holds you back from attaining those goals. He or she works with you to construct a financial plan and makes a number of recommendations. He or she then implements the elements of that financial plan and provides you with periodic reviews to assess the success of the plan and to consider any changes necessary to better meet your original, or revised goals. Independent financial advisors are not tied to any one insurance company or other organization which manages financial products. Therefore his or her personal compensation is based on one or a combination of the following. Commission: Commissions are payable on financial products purchased through the investment advisor. Commissions can be payable by the investor, by the company which manages or sponsors the financial product (such as a mutual fund management company) or a mixture of both. Fee-only: The client pays the advisor a fee based on the client’s assets or in
