Different types of financial advisors, including registered investment advisers (RIA) and broker-dealers, may charge different types of fees for their services, as reported by Forbes.com. Financial advisers in the RIA category typically charge either a flat fee or an hourly rate, while broker-dealers are typically compensated via commission.
The broker-dealer's commission comes from the purchases the investor makes, so in a sense, the adviser's payment is part of the financial product the client buys, as noted by Forbes.com. While RIAs typically get paid either flat fees or hourly wages, they may also accept a share of the client's assets as compensation for their advisement services. Each individual professional may have his own rates and preferred style of compensation.