Exponent you’re a professional who wants to make the transition to fee-based services or a client in search of an advisor that does, there are plenty of choices. But not all are created equal.

Financial planners offer a full range of planning services, from investment management to retirement and estate planning. They balance their income through a combination of client fees and product commissions.

Top Financial Planning Strategies from Exponent Investment Advisors

The good news is that, according to the Canadian Investment Dealers Association, many more advisors are shifting their business models from commission-based to fee-based. A recent survey found that more than 14% of advisory clients now have assets in fee-based accounts.

Those who have switched to the fee model say it allows them to be more transparent about their services and reduces the potential for conflicts of interest. Others simply want to be seen as advice-givers, rather than product purveyors.

A booming industry also makes it difficult to keep track of which advisors are using which compensation models. As a result, there’s a real risk that you may be working with someone who doesn’t have your best interests in mind.

To help you find the right financial advisor for your needs, we suggest that you ask the following questions: