If you’re currently considering using an advisor to help invest some of your money, you may be wondering whether you should opt for a fee-based advisor. The past decade has seen a serious increase in the amount of fee-charging investment services—largely due to how lucrative the business strategy is for advisors and money management teams.
Fee-based advisory services have become the norm, and while this is good for advisors, you should make sure to do your own research prior to investing.
The fee-based financial industry has ballooned from almost non-existent to an industry worth over $2.8 billion. For this reason, the majority of money management advisors you’ll come across will be fee-based. We’ve compiled a list of the top three problems you may face if you opt to work with a fee-based advisor.
Let’s take a look at some of the real facts behind fee-based advisors.