22 Jul '12, 12pm

Disrupting Financial and Insurance Planning

Disrupting Financial and Insurance Planning

Disrupting Financial and Insurance Planning Posted by Drizzt July 22, 2012 Recently there have been much talked about proposals to shift from commission based financial planning to fee based financial planning. We have heard a lot of propaganda that it will not work well in our context. I will like to give a little bit of my thoughts on this. I am quite certain the majority of the people will not go for fee based. Commission based Financial & Insurance Planning Is Filled with Economic Bias A commission based insurance advisor has to sell in order to get paid. There are economic bias to it. What is economic bias? This video below explains it pretty well: Not all insurance agents are bias, but with a structure like that, its hard to sell plans that people need yet pays little commission. The psychology of paying a large fee upfront When I get to know that for a fee based fin...

Full article: http://www.investmentmoats.com/budgeting/insurance/disrup...

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