Send me an email with your guess and for a cup of coffee, I will give you the answer. I'm asking seriously. Either you are ethical or you are not, regardless of the method of compensation. Financial Planners come in as many different varieties as do clients. I tend to agree with you.
Every barrel has it's bad apples.
Method of payment should be disclosed, but is by no means the most important factor in determining competence. As a financial planner, I deal with risk management and when I spot an insurance issue that needs attention, bring in a life underwriter to address it. If an insurance sale results, often a portion of the commission is rebated to the client, who may use it to offset a portion of my fee for other work. If there are investments to be made, I bring in an investment specialist to make recommendations. Send me an email with your guess and for a cup of coffee, I will give you the answer.