There is no such thing as a free lunch. When it comes to an advisor’s fee this certainly is true. Advisors don’t work for free. So the question is not, will you pay for the financial advice you receive but how much will you pay?
With a commissioned advisor you pay for her advice by buying an investment on which she receives a commission. She may not bill you directly for her advice but don’t be fooled, you are paying indirectly. The investment company pays her a commission so she doesn’t need to charge you directly. But that commission comes out of the money you invested. And often you will not know just how much that commission is.
With a “fee only” advisor you pay the advisor directly. You know upfront what your cost will be. That way you are free to invest wherever you want, sometimes at a saving to you. Also with a “fee only” advisor you needn’t worry that investments with high paying commissions will be recommended over better investments with lower commissions.
The “fee only” advisor has only your best interest at heart.