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Most financial advisers still work on a commission basis. Their advice is based on selling you financial products so they receive a sales commission. You pay for this commission via extra charges levied on your financial product.
The argument against commission is that it encourages the sale of financial products rather than the provision of sensible, balanced financial advice. For a commission-based adviser, there is a also a temptation to recommend the products that pays the largest commission.
With fee-based advice you pay for a service, so the advice you receive is independent, unbiased and easy to compare.
At Holland Hahn & Wills we work solely by fee and believe that fees are a crucial part of the drive to ensure professional and impartial advice.
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