I will travel to India next month to give a presentation to Indian financial advisors on the benefits of moving from commission-only to fee-only. The Indian government is requiring any advisor that gives financial advice to become fee-only within 5 years.
I am told the advisors have a hard time believing their clients will actually pay a fee (that they can see) versus a commission that is unseen. Also, most of them do not understand that being fee-only frees advisors to focus on full financial planning, not selling a product so they can get paid.
Would you be willing to help me with this presentation by writing a sentence or two that speaks to the advantages you experience using a fee-only advisor over a fee and commission or commission-only advisor? You can feel free to put the comments below or email them to me. I will only use your first name.
I think that having feedback from clients, rather than just my own perspective, will add a great deal to this presentation. Thank you very much for any comments you are willing to offer.