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Fee only financial planner is the right choice because he or she only charges for the services they render. They are registered investment advisors who have the fiduciary duty to act in the best interest of the clients. It is best to work with them because they have fewer conflict of interest and offer better financial advice.
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Fee only financial advisor cannot receive compensation from any other party be it a brokerage firm, a mutual fund company, insurance company or any other source except the client which makes it easy to develop a one-on-one relationship between the two parties and work for better benefits
Fee only financial advisors will report to the client and look after your interest when they offer you advice; they are loyal to you as you sign their paycheck
The best thing about working with a fee only financial planner Los Angeles is that they will charge you a rate that is based on a percentage of the assets they manage for you; they can either take it each month, every quarter or yearly depending on mutual understanding
Working with a fee only financial advisor is the best because you don’t have to fear conflict of interest; the advisors are not earning any commission and this does not cause any problem which might make them to do more to earn more
Fee only financial planner has the chance to offer objective second opinion of your situation as they are serving you on various fronts and it can range from addressing a specific question to a review of the investment portfolio or even a full blown financial plan and they offer the best advice that will help you do well in the market