Kingdom Calling vs Financial Advisors: Whose Side Are They On?
Financial Advisors – even the best of them – are incentivized to either sell you products owned by their companies, or in the case of many “fee only” advisors, steer you away from the best products because they too have “fees.” What is apparent in both of these situations is that what is absolutely best for you, in your particular position, with your individual plans, is not paramount.
It is quite common for financial planners to work for a large institution. This in itself is not bad, and neither are the motives of most planners. But these advisors do often have strong incentives to push you towards certain products with relationships with their own companies, and away from others that might be just as, or more, helpful to you. I know because in my former position as just such a financial advisor, I was in similar such situations many times in the past.
There is nothing at all new about the relationships between advisors and financial products. And as I mentioned, there are “fee only” advisors out there. But they typically have ties to products. And sometimes they can be prejudiced against products that carry fees or commissions. And, of course, sometimes those products are the best ones for you.
We at Kingdom Calling do not have any such arrangements. As a matter of fact, most of the things that we discuss are not products that you can buy through us. When looking at an investment, we help you pick it apart and discuss everything we can think of that can possibly go wrong, so that you have a very solid foundation of all possible outcomes of a certain investment.
With Kingdom Calling, what is best for you, in your particular position, with your individual plans…IS paramount.
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