What is fee for service financial advice?

The financial advice industry is still evolving and consequently there are lots of different ways that you will pay for the education, guidance and advice that you receive.

Prior to seeking advice it is a good idea to be clear on what type of advice you are seeking and also to get a handle on the diferent ways you could be charged for that type of advice. To help you obtain a snapshot of some common fee for service charging models I recommend you read this article from The Australian newspaper.

In my opinion there is no single best way. You must agree with your adviser a charging method that you feel is appropriate to the type of service they are providing.

That said I am fascinated to learn how you would prefer to pay for financial advice, of any variety. So please let me know your preference by leaving a comment below. (You can choose to be “A. Nonymous”)