There is a clear difference between financial advisors. A summarized comparison follows.
Be your own financial advisor.
This works for a small percentage of the population. For most of us, we don’t have the time, the expertise or the interest to do this. A third-party advisor also provides continuity when a spouse or partner passes away.
These advisors are paid by commissions. They are only required to do what’s suitable for you, not necessarily what’s best for you.
Fee-based financial planner.
Don’t confuse these advisors with a Fee-Only financial planner. They charge you a fee for their services, but they may also receive commissions for the investments that they make on your behalf.
Fee-Only financial planner.
This is the Guidepost Financial Services approach. We are only compensated by you. There is no conflict of interest. Our fiduciary responsibilities require us to place your interests ahead of ours in all decisions.