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Difference Between a Broker and an Advisor

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Darren Fogarty, Research Analyst for the Institute and Employee Benefits Advisor at Wincline, gives commentary on the true differences between brokers and advisors in a recent interview with Healthcare Americana. Wincline is a fee-only, benefits advisory firm that advises companies on reducing their healthcare costs.

Fogarty speaks with clarity on the critical difference for a client between being served by a fiduciary as opposed to a sales broker. You can listen to the clip below:

If you are interested in viewing the relevant sections of the paper that Fogarty discusses in his interview with Healthcare Americana, you can view the discussion of brokers and the discussion of fee-only advisors at their respective links.

Allan Slider

 

Allan Slider, founder of FeeOnlyNetwork.com and a good friend of the Institute is interviewed by Kevin Price, Host of the Price of Business Show.

Slider explains in this interview why only 2% of financial advisors—those that are “fee-only”—can offer unbiased financial advice, free from the conflicts of commission, and are held to the highest standard of fiduciary care.

Carolyn McClanahan

 

"With the advent of 401(k)s and the decimation of pension plans to ensure financial security in old age, a fiduciary standard is more important than ever. The public needs to be confidant that advisors helping them plan for their retirement years always and only act in their best interest as a fiduciary. I'm happy to endorse organizations such as the Institute for the Fiduciary Standard that promote protections for those who need to secure their financial future."

- Carolyn McClanahan, Founder of Life Planning Partners