The “financial advice” industry encompasses a wide range of services, investments, and business models – so much so that it can be a complex and frustrating process for people to find the right person for their needs.
Some advisors are paid by commissions, others by charging fees based on assets managed. Then there are hidden fees, kick-backs, and trailers that clients will never see.
I used quotes around “financial advice” in the first paragraph because most people will lump brokers, insurance salespeople, annuity sales people, bankers, and other types of financial jobs into that same broad category. And this is where it is helpful for people to be armed with the right questions to ask when interviewing potential advisors.
Cornerstone Wealth Advisors is a proud member of the BAM ALLIANCE®, an active community of more than 140 independent wealth management firms (primarily CPA firm affiliated) throughout the United States. Every member of the BAM ALLIANCE shares our fiduciary pledge to act in their clients’ best interests and help investors and their families take control of their financial futures.