Traditionally, the business of providing investment advice has been centered on "selling." Financial institutions develop products and brokers (or salesmen) generally sell those proprietary products to customers. Brokers are paid to transact, whereas it may be in your best interest to buy and hold. There is an inherent conflict of interest with the old way (or traditional structure), as compensation incentives are misaligned with your interests.
As a pioneer in Fee-Only financial planning in the state of Mississippi, BWM is fiercely independent and, as a result, not beholden to any particular financial institution or class of products. Our wealth management process begins and ends with you, the client. By carefully considering your unique needs, our objectivity and independence allows us to use the best solution providers, while steering clear of conflicts of interest.
How can this be? It’s simple. There is no incentive for us, as an independent, Fee-Only fiduciary, to do anything other than that which is in your best interest at all times. We are free to give you the best advice possible because we work directly for you and are paid by you – not by another financial institution.
Do you prefer the Old or New Way?