By: Larry Miles
That’s right. Yes, I’m a financial advisor. Yes, my firm is a national network of like minded advisors. And yes, I believe financial advisors – on average – are overpaid. Why?
Advisors’ fees are not tied to the value they deliver. Too many so called “advisors,” continue to charge asset-based management fees, earn commissions and sell insurance - when their focus should be on what really matters to clients.
Entitlement. Advisors believe “this is how much I’ve always been paid, and this is what I deserve.” It’s BS, excuse my language. Times have changed. Technology has disrupted. Advisors need to reduce their fees, add more value or plan to go out of business.
Greed. Many advisors charge as high a fee as they can get away with. It’s not ethical, it’s not right, and it happens all the time. It’s disgusting.
AdvicePeriod advisors believe in charging a fair fee for the value they provide. The more we can help a family? The more we’ll charge. The less there is to do for a family? The less we’ll charge. It’s that simple. Join us today.