There Is No Panacea!

We continue our exploration of the inherent conflicts of interest in the business of financial advice in this next 90 Second Finance video depicting the Economic Bias of Fee-Only Financial Advisors.

YES, in doing so, I’m turning the sword on myself—I am, indeed, a fee-only financial advisor.  Having spent time as a commission-only, fee-based and now fee-only advisor, I don’t shrink from my belief that the fee-only model is the best…but that doesn’t mean it’s perfect.  And as I mentioned in the introduction to this series, EVERYONE is biased; it’s a fact of money and life!  The goal should be to acknowledge biases where they exist and reduce them to the greatest degree possible.

Enjoy!

One thought on “There Is No Panacea!

  1. Tim,
    I’m very comfortable with the Accounts Under Management (AUM) concept. If nothing else, under AUM there is no incentive to engage in indiscriminate trading to earn a fee.

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