How to compensate a financial planner?

Financial planners are individuals that will help you create your own financial plan.
A financial planner may be compensated in one of three ways:

Fee only basis:- The fee is based on the value of the client's assets and/or income, or is an hourly rate. We work on a   fee for service basis charging an hourly fee for the amount of time spent.
Fee and commission basis:- The fee is determined by the amount of work involved in designing the client's plan and   continuous updating. The commissions are derived from the sale of financial products if the client implements the     product portion of the plan through the planner.
Commission only basis:- The commissions are usually derived from the sale of financial products by the planner.

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