#financialadvisorcompensation #financialadvisorfees #moneyandmortgages

In this episode, Adam Coleman hosts Betsy Hutchins, a Certified Financial Planner and the founder of Forward Financial Planning. The conversation primarily focuses on understanding financial advisor compensation structures and distinguishing the difference between fee-only and fee-based advisors. Betsy emphasizes the importance of recognizing potential conflicts of interest based on how an advisor is compensated. They also discuss financial-industry designations, the value of a fiduciary standard, and the considerations one should make when choosing an advisor. Betsy advises listeners to take the time and effort to find the right advisor and cautions about hidden fees in fee-based structures.

For more information on Betsy, check out her website: https://www.fwdfp.com/

00:00 Introduction and Guest Presentation
00:16 Understanding Financial Advisor Compensation Structures
00:46 Guest's Journey into Financial Planning
03:28 Different Compensation Structures in Financial Advisory
03:58 Understanding Fee-based and Fee-only Financial Advisors
07:36 The Role of a Comprehensive Financial Planner
11:18 Understanding the Fee Structure of Financial Advisors
18:06 Choosing the Right Financial Advisor
22:59 Understanding the Fiduciary Standard in Financial Advisory
24:58 Choosing Between Large Institutions and Independent Firms
27:05 When to Consider a Fee-only Financial Planner
30:56 Steps to Switching to a Fee-only Financial Planner
33:04 Conclusion and Contact Information

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Disclaimer: The information provided is for general informational purposes only and should not be construed as financial, legal, or tax advice. Always consult with a qualified professional before making any financial, legal, or tax-related decisions.