what does fee only basis mean in terms of financial advice?

Answer 1

what you earn i think

Answer 2

There is a difference between fee-based financial advisors and advisors who work on commission. Conventional wisdom holds that fee-based advisors are more trustworthy. Theoretically anyway, a fee-based advisor receives a flat fee regardless of the advice offered to the client and regardless of what the client buys or does not buy. If an advisor works on commission, maybe the advisor will steer a client into investments which earn high commissions for the advisor, even if the investments are not in the best interest of the client.

Answer 3

This means the products they sell are unlikely to have loads (commissions/fees to the salesperson) built in to the products they sell you.
Many wealthy investors use fee only planners since these planners should have no financial interest in having you buy a certain product.
This type of planner often requires a large amount of money to manage.

I would not purchase any funds with a load.
Go to Vanguard. Their funds have low fees and you can figure it out on your own. One thing I can tell you is your not going to get rich after the government takes their share of the capital gain distributions and or apreciation.

Answer 4

They advisor is paid for time only. They can be unbiased when they recommend investments/insurance since they don't sell anything.

Answer 5

the advisor is just making an hourly rate, not a percentage of your money