Who does your Financial Advisor work for?
Chances are you are thinking that the answer to this question is easy. You're probably thinking that your financial advisor work for a bank, insurance company, or they might even own their own firm, but at the end of the day you are the client and the client always comes first so they work for you, right? Not always the case.
The article linked below explains how at various Wall Street firms, the employer of your financial advisor, can influence the advisor's recommendations by making changes to the way the financial advisor is paid. This is the oldest trick in the book. Want your salesforce to sell more of something? Move the carrot to that product and the sales follow. This gives advisors an economic incentive to make recommendations to you based on whether or not they will get a pay raise, not because of what