Investing Blog Roundup: Advice-Only Financial Planning

A 2020 Kitces Research survey found that roughly 70% of advisors charge based on assets under management. For many people — especially people with a history of taking a DIY approach to personal finance — that’s a deal breaker. Despite recognizing the value of getting advice from a professional at various points in time, they’re uninterested in paying an ongoing fee.

The result: a growing sub-field of “advice-only” financial planning.

• Envisioning an Advice-Only Planning Model from Cody Garrett

Other Recommended Reading

• Broker-Dealers Still Aren’t Abiding by Reg BI (“Best Interest”) Rule from Melanie Waddell
• SEC Finds Widespread Advisor Fee Calculation Errors from Melanie Waddell
• SEC Risk Alert Regarding Robo-Advisors from the SEC (The SEC found that nearly all robo-advisors examined received deficiency letters regarding compliance failures, the fiduciary obligation to provide advice that is in the client’s best interest, and inadequate disclosures or misleading statements in marketing materials.)
• The Hidden Costs of Free Investment Services from John Rekenthaler
• Most Stocks Aren’t Very Good from Ben Carlson
• Using Medicaid Annuities to Protect Retirement Assets when a Spouse Requires Long-Term Care from Jeffrey Levine
• Don’t Fear the Meter: The Inescapable Future for the Hourly Revenue Model for Advisors from Bob Veres

Thanks for reading!