Message Font: Serif | Sans-Serif
No. of Recommendations: 0
Are you saying then that commission based people then are doing their clients wrong because of the way they are paid, this whole commission and fee arguments is all a matter of semantics I do not care how you get paid it makes no difference

Whenever the professional: accountant, insurance agent/broker (well, that's a stretch), doctor, financial planner, etc. sets him or herself out to the public and offers "free consultations" and the like attempting (and often suceeding) that he or she is providing "unbiased" & "on-the-money" professional advice on whatever is relevant; then YES, IT MATTERS A GREAT DEAL; because that professional; at a minimum is compromised by his desire to sell a product from his stable of products on which he will earn a commission versus truly giving the client the "unbiased" prfoessional counsel that they thought they were getting. A a maximum; that "professional" is a liar & a thief becuase he will frequently not disclose his motives for offering the advice he gives.

Case in point: Bob & Mary use their insurance agent for their financial plan. The agent says: 1. do your 401(k)'s at work; 2, Open up ROTH IRA's; & 3. Take all the rest of your money & start contributing to deferred annuities with my insurance company.

I'm sorry, but for 1 or 2 cases per 1000; that agent belongs in prison.

Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.