Seeking the advice of a fee-only, fiduciary financial planner is one important step to consider.
An earlier investigation by the state Securities Commission found that the actions of the association, i.e. giving investment advice for a fee, may have caused it to fall within the definition of investment adviser under Alabama law.
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Get professional advice if needed but be sure that the advice comes from a fee- only advisor.
They are paid a flat fee for advice or more typically, a percentage of assets they manage.
This approach may seem more realistic than either charging a fee for advice or placing other obstacles in the way of showroomers.
From 2013, they will have to charge an up-front fee for advice instead, as part of moves towards greater price transparency in banking services.
Under the new rules customers will be charged a fee for investment advice from a qualified professional.
For more comprehensive advice, consider hiring a fee-only financial planner or investment adviser.
When CPAs charge a fee for their tax work and a separate fee for investment advice that is fine.
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The fees and commissions earned through active investing are considerably higher than what should be earned by telling the truth about passive investing and charging a fair fee for this advice.
Vanguard Chief Executive John Brennan credits investors with nudging the privately held company into fee-based financial advice.
No-frills Vanguard Group , the second-largest U.S. mutual fund company, is attracting a number of investors who are willing to pay for fee-based financial advice.
However, pension providers will be able to charge an additional up-front fee if clients want personalised advice but the government insisted that the 1% charge should be enough to cover basic advice.
If you want advice delivered in person, consider a fee-only planner, meaning one who charges either an hourly rate or a flat rate, as opposed to one who lives off sales commissions.
Few financial advisors are paid a separate fee by investors for providing objective advice.
The result has been that local pension lawyers have now drifted into investment matters they have little or no expertise in handling, offering advice that may be tainted by the referral fee arrangements they have.
Credit Suisse First Boston, Warburg Dillon Read and Merrill Lynch: all have, of late, curtailed their reliance on trading in favour of fee-based income such as advice on mergers, which are booming (see chart).
Insurance brokers defended the fee flow and said it never tainted their advice.
Investors are almost universally not prepared to pay the full price for objective advice and are generally resistant to paying any separately stated fee for it, however small.
These can take many forms, but often resemble a sort of health-care version of the franchise arrangements common in other industries: The leading center shares clinical protocols and advice, and the local hospital, which typically pays a fee, can publicize the relationship to prospective patients.
Rest assured, we were told, the fee splitting arrangement with Financial Engines met the guidelines for independent advice the Department of Labor had established in their SunAmerica advisory opinion.
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Paying the adviser a fee (either at an hourly rate or through a fee for the whole job) is known as 'fees only' advice.
Alternatively (or perhaps in addition), the structure may include a planning or consultation fee (either fixed or hourly) for time discussing your account or providing other advice.
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To protect against that, the law required that when investment managers give advice it must be based on either "unbiased" computer models or a "level-fee" arrangement where advisers aren't paid based on the investments participants buy.
Fee-only advisors have fewer inherent conflicts of interest, and they generally provide more comprehensive advice.
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