I know of Certified Financial Planners who earn a commission from the investments their clients make, but there is an explicit agreement between the planner and the client for this.
There are also fixed-fee CFP's who take a fixed annual fee from the client, create a financial plan, recommend debt and equity funds and fund houses to the client. Is that all there is to it? They earn only the fixed fee? Or is it possible they have tie-up's with the fund houses in a way that if they prove (by showing email records (although that can be spoofed too)) that they were the reason the client invested with that fund house?
Asking because I've noticed fixed-fee financial planners recommending clients to open an account with a brokerage firm which allows you to invest into various fund houses with a single account. But the firm will charge you a tiny percentage from every investment you make.
So couldn't it be that this kind of a firm (or the normal fund-houses too) will have incentive to get financial planners to recommend its services to others; in turn paying the planner some fee/commission for every successful recommendation?