This video is part of our 2015 #MoneyMinute contest. Click the “thumbs up” below to vote for this video as one of your favorites and check out all the video entries here. Remember, voting occurs daily!
Name: Jeff Rose
Website: Good Financial Cents
Entry Category: Professional
#MoneyMinute Voting is closed
Hey this is Jeff Rose, GoodFinancialCents.com with another good financial tip. If had you to ask one question to a financial planner, financial advisor before hiring that person, this is the one question that I would encourage you to ask.
And that question is; how do you get paid? And you probably wonder why would you ask them that question. Why not; how long have they been into business, you know how much money have they made for their clients or you know what designations do they have?
Yes, those are all important questions but; by asking that person a question; how do they get paid? You’re gonna, you’re gonna get to know that advisor really quick. And why that is? Because financial advisors get paid in so many different ways.
Some are commission base, some are feed base, some are feed only, some are a combination of everything that I just mentioned. So to ask that specific question to that advisor, you better get a direct answer. If they kinda him or around it.
They don’t answer directly and most importantly; if their answer doesn’t make sense to you, you wanna hire somebody that you don’t understand how you’re paying for their services?
I don’t think so. So I will encourage you to ask that one question. How do you get paid? And see what they say.
This is Jeff Rose for GoodFinancialCents.com.
*Professional entries were hand-selected to showcase their exemplary production and sound money management advice; these entries are not eligible to win prize money.