The Enlightened Investor
The enlightened investor quickly realizes that there exists an inherent conflict between the goals of the proprietary brokerage firm and the goals of their clients. The investor realizes that only by consulting an independent financial advisor can they be ensured of unbiased advice and service that is never driven by sales commissions or “kick backs.” The enlightened investor understands that a Fee-Only advisor's success is tied inevitably to the long term financial well-being of their clients.
It is also understood that sound investment and financial planning advice cannot be obtained from a financial advisor that is compensated based on the type of products they sell and the frequency with which they are sold. The investor knows there exists no mechanism for these salespersons to give independent advice since they receive higher commissions for recommending financial products driven by their firm’s best interest. The enlightened investor intuitively knows that these so-called financial planners squeeze unique clients into very generic and pre-packaged “financial plans” that are simply gimmicks for their sales pitches. We feel sorry for the investing public because commissions charged by these salespeople are rarely openly disclosed, as most of their customers would be amazed and disheartened to learn that they pay a commission many times the value of any advice they receive.
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