How do you prefer to pay for financial advice?

One year ago a large institutionally owned financial advice group switched its charging structure to fee-for-service from commission. Since then all new clients have been fee-for-service. Existing clients have been able to opt to continue their commission structure.

Interestingly, one year on the dealer group reports that most existing clients have opted to continue with the commission based fee structure.

How do you prefer to pay for financial advice? Assume that the total dollar cost to you is identical no matter how you choose to pay. Realistically that would be around $3,000 per year.

Flat fee out of my pocket
Percentage commission from my financial product
A mix of both of the above

Any comments on your payment preference (optional)?

Author: Matt Hern

Certified Financial Planner professional, Matt Hern has three times been awarded as one of Australia's Top 50 Financial Planners by The Australian Financial Review Smart Investor. He is passionate about guiding you on the right financial choices to achieve what you really want. Matt Hern is an Authorised Representative of Charter Financial Planning Limited AFSL 234665. All information is general advice only.

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