![]() Business Liability, Director and Officer Insurance Policies.Life, Disability or Long-term Care Insurance Polices.Homeowner and Automobile Declaration Pages.Listing of Available Investment Options in Investment and Retirement Accounts.Titles for Homes, Cars, Real Estate, etc.Wills, Trusts, Healthcare Powers of Attorney, Health Care Proxy or Other Powers of Attorney.There are a number of documents you'll need when working with your financial planner, and he or she may provide you with a customized list for your specific needs. In addition to commissions received from any financial product sales, you should ask whether there are outside incentives or bonuses to be gained by the planner for certain recommendations. Please Note: In all of the above categories of compensation, you should request information on any real or potential conflicts of interest. Salary: Some planners work on a salary and bonus basis for financial services firms.In addition, the planner may receive commissions from the sale of recommended products used to implement your plan. Combination Fee/Commission: A fee is charged for consultation, advice and financial plan preparation on an hourly, project or percentage basis.Compensation is received solely from the sale of financial products you agree to purchase in order to implement financial planning recommendations. Commission-only: There is no charge for the planner's advice or preparation of a financial plan.Fee-only: All of the financial planner's compensation from his or her client work comes exclusively from the clients in the form of fixed, flat, hourly, percentage or performance-based fees.Before entering into a relationship with a planner, you should have a clear understanding of how he or she will be compensated. Choosing the appropriate method depends on your individual situation. Financial planners can be paid in a variety of ways, and each has its merits.
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