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Have you asked questions about payment to that financial advisor you\\u2019re considering hiring? When it comes to hiring a new financial advisor, it is important to ask and understand how they\\u2019re getting paid.

Whether they\\u2019re getting paid through commission or fees, they should disclose that information with ease. It\\u2019s always good to know the type of fees you\\u2019re getting into.

In this episode of the Secure Your Retirement podcast, we talk about how advisors can get paid through fees and commissions. Listen in to learn about fiduciary and why it is important to ensure the financial advisor you hire is also a fiduciary.

In this episode, find out:

\\xb7      Why you should ask your financial advisor how they\\u2019re getting paid to understand fees.

\\xb7      How advisors used to be paid commissions on stocks and mutual funds brokering.

\\xb7      How advisors charge on an hourly basis/flat rate or a percentage of assets they\\u2019re managing.

\\xb7      Fiduciary \\u2013 someone making decisions for you before they make decisions in their favor.

\\xb7      The importance of working with a fiduciary and asking that question before hiring an advisor.

\\xb7      The difference between legal and assumed fiduciary.

\\xb7      Ways that can hold an advisor to a fiduciary standard and suitability.

\\xb7      Ensure you properly understand an investment when not working with an independent advisor.

Tweetable Quotes:

\\xb7      \\u201cThe big thing here is someone that is working in your best interest, making decisions for you regardless of how it\\u2019s going to affect them.\\u201d- Murs Tariq

\\xb7      \\u201cFiduciaries a lot of time will keep things very clean so they don\\u2019t have to disclose things like paid recommendations.\\u201d- Radon Stancil

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.