If you are looking at investing your hard-earned money, then at some point you will probably interact with one or two money advisors. It is critical that you understand the differences between fiduciary vs. non-fiduciary advisors because very different standards apply to their advice, their practice, and the effect both have on your money. You'll want to keep in mind these things:
The last couple of decades have seen a decided shift in the way investors invest, largely due to the accessibility of the Internet. Although investors like the idea of being independent in their financial strategies, their lack of expertise puts their overall portfolios at risk. In seeking to have some control over the direction of their investments while getting the expert consultation needed, investors are finding these 3 benefits in fee-only financial planning.
There are different kinds of financial planners to help manage your finances. There are the typical broker types who charge a commission every time they sell you a financial product. This is not so good because these brokers or salesmen are motivated by profit and do not always have your best interests at heart.