The term “Independent Financial Advisor” describes a business model in which advisors work independently for their clients rather than representing insurance companies, banks, or large brokerage firms.
The Freedom to Choose
Advisors that work directly for banks, insurance companies, large brokerage houses, and other “captive” firms are often limited by the investment products they can access. Their limited selection of investment vehicles often includes proprietary products with hidden expenses and questionable merit. Many captive firms have “inventories” of financial “product” that end up in client portfolios as a result of pressures from management. In other cases, representatives of captive firms are given incentives to recommend one product over another by being offered different commissions. These practices clearly put the interests of the parent company above those of the client.
On Your Side
You want to work with an advisor who answers to no higher authority than its clients. As a fully independent investment advisor, Fineberg Wealth Management is not restricted to any investment product or service, and always works exclusively for the benefit of our clients. We receive no commissions or compensation of any kind from brokerage firms, fund companies, or insurance companies.