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Getting The Right Advice


In many instances, a financial adviser's income is derived from the commission received from financial institutions for selling their products.

To increase independence and impartiality, investigate the option of using an adviser who charges you a fee for their service. Sometimes the best advice such as paying off debt won't earn a commission. By paying a fee, the adviser still earns an income. Note that any commissions received on the sale of investments should be credited against your fee.

The obvious disadvantage to this option is that you're now paying for the service. We pay a fee for our doctor, dentist, lawyer and hairdresser, so why not for the person advising us on our financial independence in retirement?

You decide.