Estimated reading time: 1 minute 30 seconds
When it comes to your financial life you deserve the best independent and objective advice. However, when you arrive at your financial advisor's office, how do you know whether he’s working exclusively for your best interest? Is his or her advice influenced by the compensation that they receive from your transaction? Many advisors are actually individual salespeople employed by brokerage firms. They are often called “Stockbrokers” but their office title is Registered Representative. The latter job title makes sense because they are registered to represent the brokerage firm for which they work.1 These “Stockbrokers” often receive “revenue sharing” payments for recommending specific mutual funds from their list of preferred product partners.