As a strictly Fee-Only financial planning practice, Superior Financial, LLC is compensated solely by our clients, with neither the advisor nor any related party receiving compensation that is contingent on the purchase or sale of a financial product.
A financial planner who has a financial stake in the course of action that he/she recommends to a client faces an inherent conflict of interest and cannot be considered objective and unbiased. This is true even if the planner truly believes that he/she has only the best interest of the client at heart.
Unfortunately, the vast majority of financial advisors are sellers of financial products. Some or all of their income may be dependent upon their ability to steer their clients to a limited number of the thousands of financial products available today. As a result, many advisors run their businesses to benefit themselves as much – or more – than their clients. These advisors include stock brokers, insurance agents, as well as financial planners. Many of their clients are not aware of their advisors’ dependence on selling products, or do not recognize its significance.