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| *Ostroff, Fair and Company>>>Financial Services |
Is it improper to ask my financial advisor...? |
how much commission he makes on a given product that I may consider purchasing? No, not at all and you should negotiate commissions. I work for one of the largest firms in the world. I know exactly how it works. This not only applies to stocks but managed accounts as well. Mutual funds and like products such as annuities are generally fixed sales charges but your broker should be explaining these things to you. No. In fact, I asked our consultant about his fees and how he and his company were paid for doing what they do. It's your money that is being invested and paying the advisor, so you have every right to politely ask about it. You may ask, and he will most probably decline to answer. Absolutely not. If he does not want to answer then look for someone else. It is your money, be as knowledgeable about your finane person as they are supposed to be about your money. |
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