If you’re investing with a broker, bank, or insurance company run as fast as you can

I’ve often discussed the differences between the commissioned model embraced by brokers, banks, and insurance companies and the fee-only model of independent registered investment advisors (RIAs).

Besides obvious differences in compensation structure, independent, fee-only RIAs are also held to the fiduciary standard. If you want perhaps a more helpful and colorful explanation of the fiduciary standard, I suggest you check out entertainer John Oliver’s segment on the topic.

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