An Advisor Told You to Buy It
Just because an investment counselor recommends an investment doesn’t mean it’s bad. Advisors who work on commission, however, are not required to act as a fiduciary, meaning they are not required to place a client’s interest ahead of their own.
As some investments pay more commission than others, human nature might push an advisor to recommend a higher-cost investment over a competing one. Always check to see how an advisor is paid before you invest.
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