Financial Planner, Jason Taylor, Reveals Why Fee-Only Financial Advisors are a Safer Option – Fort Collins, CO

Jason Taylor at Taylor’s Financial in Fort Collins, CO, has just revealed why using a fee-only financial advisor is a better option for most investors. For more information please visit https://www.taylorsfinancial.com

Fort Collins, CO, United States - May 4, 2018 /MM-REB/ —

In a recent interview, financial planner Jason Taylor at Taylor’s Financial in Fort Collins, CO, has just revealed why hiring fee-only financial advisors are a safer option.

For more information please visit https://www.taylorsfinancial.com/
When asked to comment, Taylor said, “Many people who are searching for a trusted financial advisor to help manage their funds are understandably unaware of the difference between fee-based and fee-only advisors. Opting for a fee-only advisor can avoid a financial headache down the line.”

Understanding the differences between fee-only and fee-based financial advisors will help people steer clear of potential conflicts of interest.

“Fee-only advisors receive a fee – such as an hourly fee, a retainer fee, or a fee calculated based on a percentage of assets managed – for their recommendations on which investment products are best for your particular financial situation.”

Some of these financial products include load mutual funds, annuities (fixed, variable, and equity-indexed), as well as whole and universal life insurance.

Fee-based financial advisors, on the other hand, receive a commission.

When asked to elaborate, Taylor said, “This means that in addition to receiving the fee that fee-only advisors get, fee-based advisors also receive a commission on the financial products that they sell you. This can lead to a conflict of interest.”

Taylor added that a hiring a fee-based financial advisor is similar to consulting a doctor who receives a commission for a particular procedure or for a pharmaceutical prescription.

“In other words, an advisor working as a fee-based agent who gets a commission from selling a certain product is incentivized to recommend it, even if it’s not in your best financial interest,” Taylor added.

“Unlike the fee-based structure, what you see is what you get with fee-only. The important thing to remember is that fee-only financial advisors will not attempt to sell you any financial instruments. You pay a fee to receive an objective recommendation in return,” he added.

The best thing to do, according to Taylor, is to inquire about how a financial advisor is compensated at the beginning your search.

“In order to avoid potential conflicts of interest, you should request that a financial advisor who you are thinking about hiring disclose how they are compensated in writing, either in an email or through a written contract,” he said.

Source: http://RecommendedExperts.biz

Contact Info:
Name: Jason Taylor
Organization: Taylors Financial
Address: 4025 Automation Way D3, Fort Collins, CO 80525, USA
Phone: 970-584-9551

For more information, please visit https://www.taylorsfinancial.com/

Source: MM-REB

Release ID: 339969