How do financial planners earn their money?
I rolled over my 401 K to an IRA when I left a job a few years ago. It has grown a little bit but hasn’t doubled or anything. (It’s been 6–7 years.)
Is there any way to know how much money the financial planner makes off of my money? He tried to get me to move it to an annuity but I refused.
After being in real estate I’m used to laws that require me to disclose disclose disclose. It bothers me that these guys don’t have to disclose how much money they make off of me. Either this guy has a whole crap load of clients or he gets a huge cut off my potential earnings. He is obviously doing quite well for himself. It’s easy to guess but I would really like an explanation from someone who KNOWS!!