How do you prefer to pay for financial advice?

By Matt Hern on October 5, 2007

One year ago a large institutionally owned financial advice group switched its charging structure to fee-for-service from commission. Since then all new clients have been fee-for-service. Existing clients have been able to opt to continue their commission structure.

Interestingly, one year on the dealer group reports that most existing clients have opted to continue with the commission based fee structure.

How do you prefer to pay for financial advice? Assume that the total dollar cost to you is identical no matter how you choose to pay. Realistically that would be around $3,000 per year.

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Matt Hern

Certified Financial Planner professional, Matt Hern has three times been awarded as one of Australia’s Top 50 Financial Planners by The Australian Financial Review Smart Investor.

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Matt Hern is an Authorised Representative of Sentry Financial Services Pty Ltd (AFSL 286786, ABN 30 113 531 034). All information is general advice only.

One response to “How do you prefer to pay for financial advice?”

Gihan Perera
October 16, 2007 at 4:08 pm | Permalink | Reply

If I only ever took advice from commission-based advisers, I would never have bought property!

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