Timeline for Do fixed fee CFP's earn from recommendations of mutual funds or fund houses or brokerage firms?
Current License: CC BY-SA 3.0
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| Sep 5, 2016 at 4:52 | comment | added | Tom Au | @Nav: Yes, Morningstar is the best source, followed by S&P and Value LIne (which have mutual fund products). Financial advisors are supposed to disclose whether they are "fixed fee" or "commissioned-based" earners, so clients can judge where their interests lie. To say one and do the other would be "false advertising," and illegal. | |
| Sep 5, 2016 at 4:49 | comment | added | Nav | About your mention of "to look up things they use these services", may I know what services are you referring to? I figured they'd be using something like MorningStar's ratings, but there is a difference between them using a service to look up things vs informing the service provider that they are recommending a product to a client, to get a commission (which is what I wanted to know). Although you say it is unethical, the question is whether it is a general practice for many planners to ignore ethics and still do it. | |
| Sep 5, 2016 at 4:15 | history | edited | Tom Au | CC BY-SA 3.0 |
added 21 characters in body
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| Sep 5, 2016 at 2:16 | history | answered | Tom Au | CC BY-SA 3.0 |