The True Cost of Investing
When investing your money and choosing a financial advisor, it is important to understand all of the fees you may incur. Not knowing the fees can cost you thousands of dollars over the years. Depending on the type of provider you choose, fees vary greatly. Registered Investment Advisers, such as Tradition, operate as fiduciaries. The fiduciary standard requires that advisers put their client’s interests first. This includes fee transparency. RIA’s charge fees for their services on a one-time or ongoing basis. Investors may also have charges for specific transactions or trades. Fees are disclosed on an RIA’s Form ADV. In addition, your adviser should have a conversation about the fees and expenses you will be charged.
“What you don’t know about advisory fees is costing you,” from CNBC highlights the difference in costs of using different types of financial advisors. “The goal of the financial advisory industry should be to make it easier, not harder, to save for big life moments.” Investing with an RIA is a step in the right direction.
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