Fee Only Financial Planning
Do we have any Fee only Financial Planners out on this forum? I currently am working with the President of a fee only firm with roughly 75M in assets under our management. We have 60 clients currently who have yearly fees ranging from 4k all the way to 25k per year, with the average around 10k. We also provide tax services as my boss is a CPA. I believe that this retainer structure and all in one financial planning model is the most fair to the client. They do not have to go to one person for investment advice, one person for insurance, one person for estate planning, and yet another person every year to do taxes - it is just all done by us. I think the whole 1 percent AUM is going to be a thing of the past once clients realize the upside of the retainer model and truely comprehensive planning with a fiduciary standard. In my opinion we have too many sales people masquerading as Financial Planners, what do you think?
