To make money, one must constantly evaluate the state of the economy. It is always changing and when you adapt, you can create advantages for yourself. The latest change in the financial advising industry will benefit you as a consumer, but you will have to take more responsibility for educating yourself.
Instead of depending on an advisor to sell one product or another, consumers will investigate different products, make their decisions, and then rely on their financial counselor to help manage their money after that, perhaps with guidance on the investment markets, tax strategies and similar information.
The cost of services will go down because consumers will be doing more of the work. And confidence in the integrity of the service will increase because consumers will be better-educated and brokers won’t be allowed to advocate only for products on which they make a commission. More