Why is it so difficult to find INDEPENDENT financial advice?

Every financial adviser or planner seems to steer us into investments that give them the best trail-ling commissions or a complete waste of time.


What is the trick to getting to the truth?Why is it so difficult to find INDEPENDENT financial advice?
They work for money. That's the problem there. They are not rich, they are not retired.


I wouldn't get advice off them!


I am a certified financial Planner as i had to be to give advice.


I have retired wealthy and they frown upon me giving seminars and investment strategy's. I have proof mine works, they have a computer program. And that's it.


The trick is. If you pay someone if you pay cheap you will get your commission based advisers.


Go to a planner tell him you plans when you want to retire, what you want to invest in. They can't pick the shares for you or pick an investment property. That's up to you. You tell them what you want. And they need to tell you how to get there. If they say $200 a month in managed funds. Then you go find your own.


Also see which way they are pushing, ask about all investment strategies. Make sure they give you options.


To keep it short they are there to keep you on track and make a plan to achieve you goals. Not specifically recommend a product.Why is it so difficult to find INDEPENDENT financial advice?
If you find an adviser whose compensation is based on the time they spend on your relationship and receive no other compensation then you can be sure to find someone that is providing conflict free advice. HFH Planning is a registered investment adviser that charges solely by the hour and receives no fees or commissions from the advice given. The firm's approach is comprehensive and includes all aspects of a person's finances.
Consider fee-for-service advisors. Here they do not make a commission from the recommendations, instead charging you an upfront or on-going fee. There is little bias here. The advisor's income is dependent on the quality of his/her advice.
For-fee adviser who does not get commission from whatever you purchase, but works for a flat fee. If you hire the ';free'; advisers they actually are getting paid out of commission.