Colorado resident Barbara Endres has worked as a community marketing executive at Welcome Wagon since 2018. Prior to this, Barbara Endres brought her skills to companies that include Merrill Lynch Wealth Management. Based on her strong performance there, the Colorado resident garnered a nomination to Barron’s list of the Top 100 Female Financial Advisors.

Financial advisors, or financial consultants, are professionals that work independently or at a financial firm. Serving individuals or companies, financial advisors provide clients with individualized advice related to investments, wealth building, financial planning, or other money-related matters.

There are four main types of financial advisors. Brokers and insurance agents sell their clients products, such as mutual funds and annuities, while fee-based financial advisors employ a hybrid business model, profiting from a combination of compensation from client fees with the commission from the products they sell.

The two most common types of financial advisors are fee-only financial advisors and registered investment advisors, both of whom have a fiduciary responsibility, which means that they have to act with their clients’ best interests in mind. The first type typically charges hourly or a percentage of investments that they manage, while the second typically works at large financial institutions.