Most financial advisors work for banks or large institutions, which means they’re often incentivized to sell products that earn them commissions rather than choosing what’s truly best for your financial goals.
Charles P. Burrows has spent over 20 years as a wealth management and investment strategy specialist at Empire Wealth Management, watching this conflict destroy long-term returns for investors who trusted their advisors to act in their best interest.
The question isn’t whether your advisor is competent but whether their incentives align with your outcomes. Understanding this requires examining conflicts of interest, calculating the true cost of hidden fees, and demanding transparency in how portfolios are built.
Understanding Conflicts of Interest
The conflict is structural. Advisors working for banks earn more when clients buy high-fee products, which creates misalignment between what’s profitable for the advisor and what’s optimal for the client.
“For example, a mutual fund or insurance product typically comes with hidden costs that eat into your returns,” Burrows explains. “Yet it’s the one being pushed because it pays the advisor the most.”
“At Empire, we don’t hold your money or earn commissions,” Burrows notes. “Our only incentive is to negotiate the best terms for you and not the bank or the advisors.” This changes recommendations entirely. Advice is based purely on which strategy serves the client’s objectives best, not which product pays the highest commission.
Most investors don’t realize how much fees are impacting their long-term growth. Even a 1% to 2% annual fee can take millions of dollars off your portfolio over time.
“My mission is to help clients cut out those unnecessary fees so they can reach their goals five to ten years sooner,” Burrows explains. “By giving you access to institutional-level investments, we eliminate layers of distribution fees which directly boost your bottom line.”
At Empire Wealth Management, Burrows helps conservative to moderate risk investors achieve strong returns, often 10% or more, even in flat or negative markets. The returns don’t come from taking more risk but from keeping more of what the market provides by eliminating unnecessary fees.
Risk Management and Transparency
Strong returns mean nothing without smart risk management.
“We specialize in building portfolios that protect against downturns while still aiming for double-digit performance,” Burrows explains. “That means focusing on strategies that can deliver growth even during flat or negative markets. And every step of the way, we prioritize transparency so you never overpay or get ripped off by advisors or high commission products.”
Conservative to moderate risk investors need strategies that balance growth with downside protection. This requires clear visibility into what they own, what they’re paying, and how risk is managed.
Your Advisor Should Be Working for You
“At the end of the day, your advisor should be working for you and not for the banks, not for the institutions, and not for themselves,” Burrows concludes. “My role is to be your advocate, helping you protect and grow your wealth with strategies built around your goals, your risk tolerance, and your timeline.”
If you’re questioning whether your current advisor truly has your best interest at heart, the question to ask is simple: How do they get paid?
If compensation comes from commissions on products they sell, conflicts of interest exist. If compensation comes purely from advisory fees with no incentive to recommend one product over another, interests align.
Eliminating unnecessary fees allows clients to reach their goals five to ten years sooner. Working with an advocate instead of a salesperson allows transparent decision-making based on what’s actually best for your financial future.
Connect with Charles P. Burrows on LinkedIn for insights on fee-based wealth management and conflict-free financial advice.
