In our first episode, Tommy Cloud and Jon Gay break down the different types of advisors, including no fee and fee only.

No fee advisors can be compensated in many different ways, including by bonuses and commissions paid by the companies they sell for. Fee only advisors are held to a fiduciary standard, which requires them to act in their clients' financial best interest.

Tommy talks a little bit about his history as an advisor, having worked in both roles, and why it was important to him that he hold himself to a fiduciary standard and act in his client's best interest, despite the temptation to make money in other ways. This removes many conflicts of interest.

We also touch questions you should ask a financial advisor when evaluating whether or not to have a relationship with them. Tommy even has a downloadable form that can help with this process. 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.