Star Trek Econ 201: Utopia, the Final Frontier
Rather than focus on "getting more" for clients, planners can help clients reach a higher level of happiness.
Flat Fees vs. AUM Recap: The Good, the Bad and the Really?
During the past few months, there has been considerable discussion about the relative advantages of charging clients flat retainer fees as opposed to AUM fees.
The Real-World Star Trek Would Be Far From Utopia
What we've learned from technology over the past 10 years or so is that it's rarely as user-friendly or reliable as we'd like.
How Not to Conduct a Legitimate Study on DOL Fiduciary Costs
FSI/Oxford surveyed BD and clearing firm execs to get “cost estimates” for the DOL proposal, and then ran those “predictions” by other FSI member BDs.
Financial Planning: Great Tool, Bad Product
AUM or flat fees? In the end, a client's financial security is attained by growing investment portfolios, not by the plan itself.
Finding Your Niche: It’s Not Just for Californians Anymore
Many of the most successful advisory firms I know were built around what the advisors liked to do and the kind of clients they wanted.
Fiduciary Best Practices, Part Deux: Bigger, Better, Maybe More Client-Centered
Recent activities in Congress and at the SEC to curtail a fiduciary standard for brokers indicate, at least to this writer, that any meaningful advances in investor protections will be driven by independent fiduciary advisors.
The Case for Charging Both AUM and Flat Fees
Rather than an either/or solution, Deborah Fox's "AUM plus fees for specific services" model provides value to clients while smoothing the advisory firm's revenue stream.
Clients Are Financially Savvy, and Other Myths
Reminders on why charging fees based on assets under management is by far the most client-centered form of advisor compensation.
What Do Advisors Really Do Anyway?
It’s not clear to me why many proponents of transforming the independent advisory world into “flat fee only” often talk as if they are completely unaware of the many client benefits of an AUM fee model.