Financial advisors have played a central role in the financial planning industry for decades, helping people (mostly the wealthy) to manage their money over time. Financial advisors are typically paid a commission based on their Assets Under Management, or AUM, or paid on a fee-only basis, meaning you pay them a flat fee directly for financial planning services. Some financial advisors get paid with a mixture of fees, commission, and/or AUM, and these are called ‘fee-based’ financial advisors.
