facebookIs it true that some Independent Financial Advisors have some kind of agreements with some Robo-advisors to promote their services? - Seedly

Anonymous

09 May 2020

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SeedlyTV

Is it true that some Independent Financial Advisors have some kind of agreements with some Robo-advisors to promote their services?

In this case, are they still independent and is it legal?

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Lim Boon Tat

09 May 2020

Mathematics at Cambridge University

This is an interesting question. I think legally, Financial advisors are obliged to divulge how much commissions they are deriving from any of the recommendations they are giving to you when you ask for it (and i believe the law allows for you to ask them for the EXACT amount, not just a rough figure). Having said that, everyone needs to make a living, so you can hardly expect the fee to be zero.

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