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Money and Finances
Reply to "Recommend a Fee for service Financial Advisor, not investment manager?"
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[quote=Anonymous]OP - Here's the difference between types of advisors and why you're getting inaccurate info... Fee-Only Planners are paid only for the advice they give. They do not earn commissions by selling financial products such as life insurance or mutual funds. They charge a set amount, either an hourly fee, flat fee for a comprehensive plan or annual retainer, and do not earn any commissions. Some fee-only CFPs may not be registered to sell financial products. charge $125 to $350 per hour. Or they can also charge on a per-project basis or set a flat fee for comprehensive financial plans. The latter can cost $2,000 to $5,000. Fee-Based Planners earn fees from advice and they make commissions on some of the products they sell. Commission-Based Planners make money from the products they sell.[/quote]
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