Liz Weston explains fee-only and fee-based financial advisors for investment advice
Updated
Updated · OregonLive · Apr 25
Liz Weston explains fee-only and fee-based financial advisors for investment advice
4 articles · Updated · OregonLive · Apr 25
Weston addresses a reader whose 68-year-old husband was diagnosed with dementia and who has over $2 million in assets but fears long-term care costs.
She clarifies that fee-only advisors are paid solely by client fees, while fee-based advisors may also receive commissions, potentially creating conflicts of interest.
Weston recommends seeking a fiduciary advisor who will put clients' interests first and suggests consulting organizations like NAPFA or an elder law attorney for further financial protection.
Why might a 'fee-based' advisor's advice cost you your entire nest egg?
With dementia cases rising, why do so many financial plans for aging fail?
What legal strategies can protect your home from staggering long-term care costs?
Is it already too late to shield your assets after a dementia diagnosis?
Are popular hybrid long-term care policies a smart plan or a costly mistake?
How can you verify if your advisor is legally bound to act in your best interest?