Fees
All financial advisors fall into one of two broad categories: Registered Investment Advisors (RIAs) and broker-dealers. Before you establish a relationship with one, it’s critical that you understand how the compensation works and the standards they need to maintain.
Broker Dealers
Broker-dealers receive most of their compensation through commissions.
They are held to what's referred to as "suitability" standard when offering financial advice, which is less stringent than the "fiduciary" standard for the RIAs.
Registered Investment Advisors
RIAs, like myself, are compensated by their clients alone. That minimizes any conflict of interest and allows the advisor to recommend from a wider variety of products.
RIAs also have a fiduciary duty (legal obligation) to offer investment advice that is best for the client.