Family Office Definition: Fee-Based Financial Advisor
Fee-Based Financial Advisor definition: A fee-based financial advisor places trades on your behalf and offers financial advice to clients. Contrary to traditional brokers, fee-based advisors are not compensated by commission on transactions. These advisors charge an annual fee (either a flat rate or percentage of client accounts) for ongoing services. The SEC and current industry trend encourages fee-based compensation because it aligns client and advisor interests.
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