Comments on: Ripped Off: Who is Paying Your Financial Advisor? http://www.investorwatchdog.com/ripped-off-who-is-paying-your-financial-advisor Timely financial educational resource information is your best defense against investment schemes & scams Wed, 01 Feb 2012 21:35:24 -0800 http://wordpress.org/?v=abc hourly 1 By: Mike http://www.investorwatchdog.com/ripped-off-who-is-paying-your-financial-advisor/comment-page-1#comment-820 Mike Mon, 22 Jun 2009 03:32:53 +0000 http://www.investorwatchdog.com/?p=845#comment-820 Robert Scott, You're obviously a commission broker. Yeah Yeah Yeah... disclosure rules. Please, that's like the fine print on your credit card statements or adjustable rate mortgage. It's laughable. I am fee-based adviser and I can't agree more with this post. Fee-based and commission-based relationships are vastly different. When you invest in commission products you are buying from a salesman(maybe even a former used car salesman). When you invest with a fee-based adviser you are going a long way to aligning both yours and the adviser's interests (i.e. the desire to grow your assets without the conflicts of interest you run into with salesmen). Robert Scott,

You’re obviously a commission broker. Yeah Yeah Yeah… disclosure rules. Please, that’s like the fine print on your credit card statements or adjustable rate mortgage. It’s laughable. I am fee-based adviser and I can’t agree more with this post. Fee-based and commission-based relationships are vastly different. When you invest in commission products you are buying from a salesman(maybe even a former used car salesman). When you invest with a fee-based adviser you are going a long way to aligning both yours and the adviser’s interests (i.e. the desire to grow your assets without the conflicts of interest you run into with salesmen).

]]> By: robert scott http://www.investorwatchdog.com/ripped-off-who-is-paying-your-financial-advisor/comment-page-1#comment-816 robert scott Sat, 20 Jun 2009 12:34:27 +0000 http://www.investorwatchdog.com/?p=845#comment-816 Matthew, you have just implied that every commissioned salesperson in America is unethical except for you and the advisors that get paid by their client directly. Maybe you did not realize that the client always pays the commission or fees. Yes it may come directly from the company and not out of their checkbook in the form of a "fee" but make no mistake, they are paying for it in lower returns, back end fees, or management fees along the way. To suggest however that all advisors paid on a commission basis are unethical is simply false and cannot be backed up with logic or facts. It is easy to broadbrush anyone who chooses not to be paid like you, but you are simply making a gratuitous assumption. Maybe you have not heard or disclosure rules. Matthew, you have just implied that every commissioned salesperson in America is unethical except for you and the advisors that get paid by their client directly. Maybe you did not realize that the client always pays the commission or fees. Yes it may come directly from the company and not out of their checkbook in the form of a “fee” but make no mistake, they are paying for it in lower returns, back end fees, or management fees along the way. To suggest however that all advisors paid on a commission basis are unethical is simply false and cannot be backed up with logic or facts. It is easy to broadbrush anyone who chooses not to be paid like you, but you are simply making a gratuitous assumption. Maybe you have not heard or disclosure rules.

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