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Who Really Is The Financial Advisor?

POSTED BY admin on Dec 31, 2007 under Business

Most advisors are really just salespersons. Sometimes it’s hard to tell, given all the titles used by brokers: financial adviser, financial consultant and financial planner, to name just a few.

Many of these sound quite similar to “investment adviser” but there’s a big difference. Investment advisers, unlike brokers, have a fiduciary duty to their clients. That means they have a legal obligation to place the client’s interests ahead of their own, and to clearly identify all sources of compensation, the amount of compensation and any potential conflicts of interest.”

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