Quote:
Originally Posted by paulgtr
it you go to some one who charges hourly, that does not stop fees from being charged when you invest your money. mutual funds are never free. So you're paying some one, and then you're paying them again.
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A load fund will charge a fee no matter who sells it - or if you are advised to just buy it directly. If you buy it directly the fee you are saving is the one from the salesman. If it's a no-load fund then you don't pay anyone. If you have a salesman/advisor who makes money if he sells you on one product, whether it's mutual funds or life insurance, but no money on another, which one is likely to be oversold? Sure it's nice to trust a guy to be unbiased, but is it realistic? I think not. There is a clear conflict of interest.
"If the public knew that my general agent gets 120 percent or that I get 85 percent of the first-year premium, that would be an eye-opener," admits one life agent, who spoke on condition of anonymity.
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Insurance Agent Salary - How Much Does A Life Insurance Agent Make?