The Traditional Way
You work with a Financial Advisor that is employed by a Brokerage Firm. The Financial Advisor is held to a Suitability Standard and shows you the suitable investment product assortment offered through their firm. The products offered generate revenue to the firm through the internal expenses, loads and/or commissions associated with the products sold. The Financial Advisor is paid a salary, bonus and/or commissions associated with the products sold and/or by their sales success as measured against their peers. Some products may pay the Financial Advisor more than others either directly or indirectly.
You hire a Registered Investment Advisor that is held to a Fiduciary Standard and legally bound to provide you investment advice that is in your best interest. You work with the Registered Investment Advisor that takes the time to fully understand and analyze your financial situation and develops a Financial Plan for you as a foundation. Through Fiduciary Collaboration you are informed, comfortable, and enabled to implement your plan. You pay the Registered Investment Advisor a fee for the service.