Understanding Financial Advisor Fees and Fee Structures

The chapter explores the various fee structures for financial advisors, including commission-based, fee-based, and fee-only models. It delves into the complexities of fee standards like the suitability standard and fiduciary rule, discussing the pros and cons of different compensation methods such as hourly fees, fixed fees, and assets under management. The chapter also evaluates the impact of advisor fees on investment growth over time, emphasizing the importance of financial education for all individuals.