In this short video, I’m talking about the downsides of financial advisors. In the full video on this topic, I define what a financial advisor is, how agency agreements restrict the investment options that are available to you, how financial advisors earn commissions off of your investments, how both agency agreements and commissions lead to conflict of interest, the difference between the ‘suitability’ and ‘best interests’ standards for financial advice, the benefits of a fee-only advisor, whether or not financial advisors have any utility and my recommendations for dealing with financial advisors.
Are financial advisors worth it when it comes to personal investments? Let’s find out.
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