Instead of focusing on the looming threat of fee compression, give your clients service that exceeds their expectations. There’s value to having a trusted advisor.
The most thoughtful and comprehensive financial plans will be derailed by an extreme, but unfortunately common event: when both spouses simultaneously display dementia.
The average management fee for an actively managed fund (where the fund manager attempts to beat the returns of a designated index) is 0.67%. The average management fee for an index fund that tracks the returns of a designated index is around 0.11%.
There’s often a huge disconnect between what advisors believe should be covered in the initial meeting and what’s top-of-mind for the prospect.
I wonder why so many advisors believe prospects and clients are interested in being “educated” about investing and financial planning.
Investors deserve to understand the difference between advisors who are “professionals” and those who aren’t.