*How to select a financial advisor *

Many financial advisors charge high fees and have additional hidden fees. The vast majority of financial advisors are commission-based, which means they may steer you towards investments with higher fees for their own benefit. It is important to find a fee-only advisor who cannot charge hidden commissions and is legally required to act in your best interest. Asking if an advisor is fee-only upfront is crucial. 'Fee-based' is not the same as 'fee-only' and may still involve hidden commissions. This practice has been banned in many countries but is still legal in the United States.