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1.
A financial planner might charge you both a fee and a commission.
True. Since fees and commissions compensate the planner for different services, some planners will charge both. It's good to ask how he or she charges.
2.
Investment advisers are registered at the national level only.
False. They may be registered at the state level instead, depending upon the amount of assets they manage.
3.
All financial planners sell investment products.
False. Not all of them are licensed to sell investment products.
4.
Within certain limits, a stockbroker can offer financial planning advice.
True. Though they don't enjoy the same advice-giving privileges as registered investment advisors, they are allowed to give some advice, within guidelines.
5.
Why is it a good idea to evaluate your financial plan regularly?
To make sure it is meeting your needs. You should evaluate your plan regularly because your goals might change, your investments might need to change -- and you might even need to change your planner.