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← Lesson
Personal Finance / CFP: What It Actually Is
Question 1 of 7
Multiple choice
What is the key difference between a fee-only CFP and a commission-based financial advisor?
Fee-only CFPs are less qualified than commission-based advisors
Fee-only CFPs are paid directly by clients rather than receiving product commissions, though clients should still ask about all fees and conflicts
Commission-based advisors are required to act as fiduciaries
There is no meaningful difference between the two
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