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Financial Advisors

All of the "financial advisors" that I know of are paid a commission for the products they sell. In addition, they get ongoing 12b-1 income. This why they only steer people to products which they sell, and why they don't charge a fee for their advice. In other words, they're salesmen, not financial advisors.

Here's an experiment: Ask a financial advisor to recommend a really good "no-load" mutual fund, and see how that conversation goes.

Edit: Financial advisors typically don't try to predict the markets - they want to make the sale NOW.



Edits: 05/28/22

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