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In this episode, we talk in-depth about how Freeman used a customized spreadsheet to analyze the financials that ended up favoring operating as an independent RIA rather than under a broker-dealer’s grid and platform fees (in particular the ability to boost long-term profitability by paying expenses as a flat cost rather than as a percentage (..)
In this episode, we talk in-depth about how Freeman used a customized spreadsheet to analyze the financials that ended up favoring operating as an independent RIA rather than under a broker-dealer’s grid and platform fees (in particular the ability to boost long-term profitability by paying expenses as a flat cost rather than as a percentage (..)
Fee-Only financial advisors and firms receive no sales-related compensation or incentives. They are compensated only by the fee the client pays. Fee-Only financial advisors, on the other hand, do not receive commissions and are compensated through a fee-for-service model.
In this episode, we talk in-depth about how Jenny and her partner grew their firm from $19 million to $250 million of assets under management in just 7 years, thanks in large part to investing in a professionally designed website that highlighted their status as a women-run fee-only financial planning firm, how Jenny felt an increasing burden of operational (..)
In this episode, we talk in-depth about how Jenny and her partner grew their firm from $19 million to $250 million of assets under management in just 7 years, thanks in large part to investing in a professionally designed website that highlighted their status as a women-run fee-only financial planning firm, how Jenny felt an increasing burden of operational (..)
Fee-only advisor – This is an advisor that does not charge commissions and hence is believed to be more aligned with the client’s best interests. Fee-only advisors are bound to the fiduciary standard. He knew before graduating fee-only was the path for him, his conscience, and his personality.
What does it mean to be a Fee-Only financial advisor ? Fee-Only financial advisors and firms receive no sales-related compensation or incentives. They are compensated only by the fee the client pays. This fee covers not only investment management, but also financial planning.
Advice-only financial planning is fee-only comprehensive financial planning without the expectation or even the option to manage any client investments. Financial planning is offered as a stand-alone product; it is the only thing that an advice-only financial planner does.
The broker-dealers would tell their reps (and some still do) that if they were to venture outside of the BD’s compliance umbrella and go fee-only, the SEC would come after them with a vengeance. Or that FINRA is going to take over the regulation of all advice-givers, and bring the hammer down on those fee-only ‘rogue brokers.’
In the accompanying articles, you will read how the ‘top’ broker-dealers are not really in the sales business anymore; they are now becoming national advisory firms. In most cases, with a few exceptions, sales are 40% or more of the total revenues, and are more often over 60%.
What is an advice-only financial planner? Advice-only financial planning is fee-only comprehensive financial planning without the expectation or even the option to manage any client investments. Financial planning is offered as a stand-alone product; it is the only thing that an advice-only financial planner does.
Could one of those sentences state that a brokerage firm, broker-dealer or other sales organization will NOT, ever, use the word ‘fiduciary’ in its disclosure, and so consumers should look for that word? “It’s a great idea,” says Rostad. Will they still be able to recommend separate accounts that pay shelf space fees?
Indexed universal life (IUL) is often sold using smoke-and-mirrors sales shams, but in this podcast we’ll expose the truth! Listen to this if you are a financial advisors or consumer who wants to see through the crap and make better decisions about whether IUL is good for you (or your client) or NOT. SARA GRILLO: Okay, Bobby.
He also has considerably less of a compliance, operational, and administrative burden because he is not taking custody or discretion of his clients’ assets. And it’s just all hourly, there’s no way you win there at all, no product sales. For advise on such matters, contact a legal or compliance advisor.
This was the first and largest in-person gathering of flat fee advisors! pricing, technology, compliance) as they build their transparent advice businesses.” Flat fee advisor “Highly qualified community with a shared vision for fairness, honesty, and transparency for clients. I look forward to more!
I think that one of the challenging things is that sales kinda has a dirty dirty name to it, right? I think that we do need sales people to sell things, I think sales is just the expression of value, the expression and the communication of value. Now, granted, I don’t think that that’s true.
Brian Hamburger has been one of the leading authorities in the world of registered investment advisories, broker-dealers, SEC regulatory compliance. And I would constantly hear them frustrated by the compliance department. HAMBURGER: They were just blaming compliance for everything they couldn’t do. RITHOLTZ: Right.
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