Financial planning fees are a source of confusion for many people. In a blog post for Sedona Red Rock News, Financial Planner Bill Kelso started a much-needed conversation about fees, spelling out what consumers are paying for when they work with a financial planner.
Bill defined three common types of fees and how they are billed, explaining that certain advisors may be incentivized to recommend specific insurance policies or other financial products based on their compensation structure. He noted that choosing a financial planner who has a fiduciary responsibility and who offers a comprehensive service and fee schedule helps provide clients the answers and transparency they need.