I often hear from prospective clients who are interviewing multiple advisors that they are only considering "independent advisors like you" when I sit down with them for our initial meeting. Some will have questions regarding the recommendations from the other advisors and ask for my thoughts on the types of products they were offered.

In most cases, the clients did not know that the other advisor was actually a broker who is a registered representative on behalf of a brokerage or insurance company. They were not provided with details on how much commission the representative would receive on the recommendations or if there were commission-free alternatives.

One of the easiest ways to increase your return on investments is to avoid paying commissions on the mutual funds in your portfolio. These commissions (commonly referred to as loads) can be in the form of an upfront load, back-end load, or an ongoing annual fee. Many of these commissions go unnoticed by and keep investors from really knowing how much they are paying in investment fees. I have many prospective clients come into my office who think they are getting advice for free when actually their broker is recommending mutual funds that carry a load and in-turn the broker is receiving a commission.

If you've been paying attention to the latest financial headlines, you've probably noticed a lot of debate regarding the Fiduciary vs. Suitability standards and how they apply in the financial industry. What's the big deal? Should you even care about this if you're not in the financial industry? The answer is yes - it's important to know the differences in these standards and which law applies to those whom you trust with your personal finances and investing.

Currently, only Registered Investment Advisors are required to act in accordance with the Fiduciary standard. The Fiduciary standard is the higher standard and requires that the advisor act solely in the best interest of the client, even if that interest is in conflict with the advisor's financial interest. Registered Investment Advisors held to this standard must also disclose any conflict of interest, or potential conflict, to the client prior to and throughout the engagement. In addition, Registered Investment Advisors must adopt a Code of Ethics and fully disclose how they are compensated.

Choosing when to start receiving Social Security benefits is one of the most important decisions today in retirement planning. How do you maximize the benefits for yourself and your spouse? Will there be tax issues related to when you start your benefits? Many people are unaware of the complex rules and strategies, especially when it comes to understanding options regarding potential Spousal Benefits. This causes those without proper guidance to potentially leave thousands of dollars in lifetime benefits on the table simply because they didn't know the rules.

Adding to the confusion is the lack of guidance provided at the local Social Security offices. As this recent article in Money Magazine demonstrates, even the local Social Security representatives do not always understand the rules, which can lead to costly mistakes.