"Managing Your Money Manager -- Demand these things from your financial adviser"

["Fiduciaries are persons or organizations who act on behalf of others and are required to put clients’ interests ahead of their own."
--Investopedia https://www.investopedia.com/terms/f/fiduciary.asp ]

From retired AARP financial columnist Jane Bryant Quinn:

"How do you know if your financial adviser has your best interests at heart? They all say they do. Then some of them turn around and sell you products with high (often hidden) costs that line their pockets at your expense...

"Ask the person managing, or offering to manage, your investments to state in writing that he or she will act as a fiduciary at all times, for retirement and nonretirement accounts. That’s especially important for less sophisticated investors who depend heavily on professional advice. Knowledgeable clients already demand fiduciaries for all their money.

"Ask the adviser to compare the costs and benefits of leaving your retirement money in your 401(k) versus investing it through the firm’s IRA. You want a good-faith estimate, in writing, of what you’ll pay in direct fees or sales commissions, plus any payments the adviser’s firm quietly receives for selling particular mutual funds or annuities... Don’t settle for generalities; get specifics. True fiduciaries will give them to you.

"Consider choosing an adviser who charges flat fees -- such as a percentage of managed assets or a fixed amount per year -- rather than those who also take commissions. Fee-based advisers can be expensive, too, so you still have to check. But commissioned advisers are those most likely to push complex products, such as annuities whose sky-high costs dwarf any benefits.

"Don’t be blinded by titles like “financial adviser” or “wealth manager.” If they’re not fiduciaries, the advisers can earn commissions on sales, and they’re legally entitled to put your interests last.

"Even if they are fiduciaries, they still might persuade you (wrongly) that costly investments are in your best interest."

https://jbquinn.com/?p=921 

You can pay directly for independent financial advice.

"A certified financial planner (CFP) is the gold standard for financial planners, backed by a rigorous certification from the CFP Board of Standards.... Most importantly, CFPs are required to put your interests first—it's not just a promise, it's their legal obligation as a fiduciary."  Investopedia article: https://www.investopedia.com/terms/c/cfp.asp

Locate a local Certified Financial Planner: CFP Board of Standards - Directory   CFP Certification Requirements   CFP Code of Ethics and Fiduciary Duty   Ten Questions to Ask Your Financial Advisor 

Whoever you deal with, you can easily check out the person and company.

The Financial Industry Regulatory Authority (FINRA) is an independent, nongovernmental organization that writes and enforces the rules governing registered brokers and broker-dealer firms in the United States.
Investopedia article: https://www.investopedia.com/terms/f/finra.asp

Check out a financial advisor or broker on the FINRA Broker Check site: https://brokercheck.finra.org

Financial companies, such as Fidelity or Vanguard, have their own business objectives, which may not align with yours.

Several years ago, HP made a pension lump-sum buyout offer to certain EDS retirees: "...speak with a Fidelity Representative at no cost to you... help you understand how this decision may affect your personal financial situation and help with your overall retirement planning and investment strategy." However, it became clear to EDS alumni that Fidelity was acting as HP's financial advisor, not the retirees' advisor -- key information required to evaluate the offer was buried in the legal Summary Plan Description, which was not included in the mailing.