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Fee-Only

The fee-only system eliminates conflicts of interest by guaranteeing that the adviser will receive compensation from no source other than client fees. Other ways to invest (performance fees, brokerage houses, affiliated managers, etc.), include incentives for an investment manager that conflict with a client’s interests. Many managers choose products with which they earn higher commissions, trade more actively, or take on too much risk.

Some planners are compensated entirely by commissions from the providers of the products they recommend and sell.  Others, referred to as "Fee-Based" or "Fee-Offset," charge both a fee and receive commissions from selling products.  

The greater the advisor's dependence on commission income, the greater the conflict.  In the end, that conflict can cost you, both in out-of-pocket expenses and the objectivity of advice you receive.