Expensive and Unneeded Investment Advisers

Advisers come in different guises. They may call themselves a variety of comforting names; wealth advisers is one. They may be independent practitioners, or members of a special department set up by a conventional stock brokerage or investment banking firm or commercial bank.They may be actually specializing in the sale of life insurance and annuity products. To round out their sales portfolio, they may even sell mutual funds on the side.They make their earnings from sales commissions from what they sell you or from fees on your assets they manage. But they are selling something and therefore, their advice may not be truly independent. Aside from all that, they can be costly. ( See the Earl J. Weinreb NewsHole® comments.