In our second episode, Tommy Cloud rejoins Jon Gay to continue the discussion about financial advisors. We break down the fees and how advisors are paid.

We walk through fee-based vs commission advisors, using some hard numbers and different types of mutual funds as examples. Tommy also explains the worlds of variable annuities and life insurance.

Sure, trips to Hawaii are a nice job perk for commissioned advisors, but Tommy believes in the fee-only system, which means advisors are held to the fiduciary standard and must act in their clients' best interest.

Finding an advisor is an awful lot like dating. And Tommy has a worksheet on his website that you can bring with you to an appointment to make sure all of your questions are answered. https://static.twentyoverten.com/5aa0095bc8f5cd2c20b6f275/kHodme0bpOUG/2015CompensationandFeeDeclaration.pdf

For more on today's episode, check out Tommy's blog about this topic. https://thirdactretirement.com/blog/no-fee-vs-fee-only-financial

To contact Thomas Cloud at Third Act Retirement, or to set up a 20 minute, no obligation call:

Email Tommy: Thomas@thirdactretirement.com

Visit the Website: https://thirdactretirement.com/

Or simply call: (770) 971-2888 or 1 800-917-5016.