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I've had bad luck with a financial advisor - I paid $600 and got a folder of charts depicting my financial situation and a sales pitch for a roster of insurance products. How can I ensure that my next advisor is worth his/her commission?

My husband has a small business, I'm in a W-2 and also earn consulting fees on the side; we have six or seven bank and retirement accounts plus a house - we need to get our finances consolidated/organized, and we urgently need to set up a trust for our young son.

Aug 26, 2012 by Bronwyn from Washington, DC in  |  Flag
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It is important to meet with a couple of advisors before you choose. There are some firms and advisors who provide planning in order to just sell products. Understanding how you advisor is paid is important and if they are acting as your Fiduciary. Many times working with a Registered Investment Advisor can help as usually do not sell commissioned products and if they do are required to disclose any conflict of interest.

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