A financial advisor is a professional who provide investment advice and financial planning services to individuals and businesses. Ideally, the financial advisor helps the client maximize their net worth by proper asset allocation. Financial advisors use stocks, bonds, mutual funds and insurance products to meet the needs of their clients. Many financial advisers receive a commission payment for the various financial products that they broker, although "fee-based" planning is becoming increasingly popular in the industry. A further distinction should be made between "fee-based", i.e., they charge fees and collect commissions, and "fee-only" advisers. Fee-only advisers receive 100% of their compensation directly from their clients and have no outside conflicts of interest created by commissions or referral fees paid by other product or service providers (from wiki).
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