Understanding a financial advisor's value requires knowledge of fee structures, compensation models, and fiduciary duties. Differentiating between fee-only and fee-based advisors, and considering robo-advisors, is important. Ultra high net worth clients should choose advisors with specialized knowledge, a fiduciary mindset, and a strong track record. Technology, client engagement, and transparency are key in advisor selection. Knowing the differences between financial professionals like RIAs and CFPs is essential for informed decisions.
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