Financial Advisor Compensation
Retail financial advisors are generally compensated through fees, commissions, or a combination of fees and commissions.
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Financial Advisor
A financial advisor is a professional who works to help their clients meet and manage their most important financial goals in life. A fundamental goal of a financial advisor is to increase the net worth of their clients over time, while protecting them from risks such as loss of income due to disability, premature death and long-term care expenses. Financial advisors will also work with clients in the areas of tax planning, estate planning, and retirement income planning and asset decumulation.
The Role of an Agent
Any financial advisor who sells an annuity and receives compensation for that sale is going to be acting as a licensed agent on behalf of the company whose product they are selling.
This financial advisor may be involved in activities that range beyond annuity sales such as fee-based investment advising, but they will be acting as an agent when they sell the annuity.
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Financial Advisor Licensing, Appointments and Affiliation
Glossary:
Companies:
The Importance of a Trusted Financial Advisor for Retirement
Understand Your Source of Information
At the most basic level, financial services sales require a couple of things:
Key Financial Planning Concepts
The following are a few key concepts to think about, look for, or listen to when developing a financial plan:
Information Gathering: This is one of the first steps in the financial planning process. Your financial advisor should gather quite a bit of information about you and your current financial status.
Glossary:
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