Every time we experience a calamity, like Hurricane Sandy if you're on the east coast, it reminds us that there are risk factors in life beyond our control. Through insurance, we transfer these catastrophic risks we cannot bear to insurance companies, but knowing HOW INSURANCE WORKS is vital to understanding why, how and what we need to insure. Take the next 90 seconds to more thoroughly understand HOW INSURANCE WORKS:
What do a used car, an old television with rabbit ears and an annuity policy have in common? You'll have to see in this new 90 Second Finance video in which I discuss the Economic Bias of the commission-only financial advisor.
Last week, I introduced the topic of Economic Bias in the financial advisory realm. I discussed each of the three primary compensation models for financial advisors, and this week we take a closer look at the Economic Bias of those who earn their compensation solely from commissions.
I'd love to hear your feedback and any experience you may have had to support OR contradict my thoughts.
EVERY FINANCIAL PLAN SHOULD BEGIN WITH THIS QUESTION: