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El Paso Fee Based Planning: What Is that?

This content was written for Kevin Oneill

El Paso fee based planning financial planners get paid differently than commission-based financial planners. This is something that many people don’t understand and something that we will cover in this article. The reason there were going to cover this is because it may shift your opinion about the type of financial advise that you want to hire. For a more in-depth conversation on the best practices and who you want to hire you going to want to get in contact with Kevin O’Neill at O’Neill Financial Planning. To schedule an appointment with Kevin O’Neill at O’Neill Financial Planning call 915-373-0989.

The reason that you need to know the difference between an El Paso fee based planning financial planner and a commission-based financial planner is simply because it may determine the type of financial planner you hire. A fee-based financial planner gets paid a fee for helping you create a plan to build or secure your wealth. A commission-based financial planner gets paid a commission based on the products that they sell you. As you can see many people believe there is a conflict of interest when you have a commission-based financial advisor. The commission-based financial planner has an incentive to sell your products that you may or may not need because that is how they get paid.

There are great financial planners in both the El Paso fee based planning model and the commission-based planning model. In the long run, it really comes down to if the person is truly acting as a fiduciary to their clients. If the financial advisors acting as a fiduciary and there is no need to worry about how they are getting paid because they’re always going to have your best interests in mind. However, if the person is not acting in a fiduciary role then you better take a very close look at how they are getting paid. If they are not acting in a fiduciary role, you better take it even harder look at if you want them to be your financial advisor at all.

Hiring a financial advisor is an extremely important decision if you choose to go that route. Some people never hire a financial advisor at all, and they do it all on their own. Depending on how smart you are about the financial services industry this may be the best option for you. However, for most people hiring a financial advisor to help them with their finances is the best choice. Therefore, you want to make sure you do your research and find the person who is going to best suit you and be able to help you in an optimal way.

Call Kevin O’Neill at O’Neill Financial Planning to discuss the different types of financial advisors and who is the best option for you. To learn more about Kevin O’Neill and the services that he offers to his clients go to www.O’Neil finance.com. You can also schedule an appointment by giving Kevin O’Neill a call directly. Kevin O’Neill’s phone number is 915-373-0989. Give Kevin O’Neill a call today to get started in securing your financial future.