Fee-only Based Practice
Stockbrokers are not looking out for investors, though the public often thinks they are. Stockbrokers are trained primarily in sales, not tax, estate planning, debt usage, risk management, investments or retirement planning.
There has to be a better way, and there is. It’s called the fee-only model. In 1983 an organization called the National Association for Personal Financial Advisors, or NAPFA, was formed. The following five core principles bound its members together: