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Fee-only advisors earn money only from the fees paid to them by clients, while fee-based advisors may also earn fees from the sale of financial products. Fee-only advisors are the best choice for ...
Fees vary from advisor to advisor. Here’s what you need to know to ensure you fully understand how much a financial advisor costs before hiring one.
A financial adviser or financial advisor is a professional who provides financial services to clients based on their financial situation. In many countries, financial advisors must complete specific training and be registered with a regulatory body in order to provide advice.
One of the most common fee structures used by financial advisors is assets under management, or AUM. It’s a percentage of all the money they manage for you, aka your total assets.
These financial resources can be in the form of investment or personal use assets, passive income, income generated from side jobs, inheritance, pension and retirement income sources, and varied other sources. The concept of financial independence goes beyond just having enough money or wealth.
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