One year ago a large institutionally owned financial advice group switched its charging structure to fee-for-service from commission. Since then all new clients have been fee-for-service. Existing clients have been able to opt to continue their commission structure.
Interestingly, one year on the dealer group reports that most existing clients have opted to continue with the commission based fee structure.
How do you prefer to pay for financial advice? Assume that the total dollar cost to you is identical no matter how you choose to pay. Realistically that would be around $3,000 per year.