My first experience with a financial advisor was in the early 1980’s, and he was a stockbroker. The minimum to hire a financial planner and invest was a few thousand dollars. The financial advisor got paid by commission. When I bought the mutual funds he recommended, he received a commission. There was a conflict of interest as he was financially motivated to sell me high commission funds, and there were no ETFs or the Fiduciary Rule,1 which mandates that the advisor acts in the best interest of...
Published on September 04, 2024 01:35