A recent article referred to percentage of asset under management adviser charging as ‘a con’. While this clearly a step too far, are we going to see more attack on this approach to fee charging?
In this podcast, we examined some recent articles on how adviser fees are evolving, including one by US based financial planning veteran Bob Veres; primary on how percentage of asset under Management adviser charging is coming under increasing pressure.
Then I interview Chris Daems of Principal Financial Solutions, who has recently made the decision to move all the firm’s clients to retainer based fees, collected from their bank account. He has moved about a third of his clients to this approach and has only had one objection so far!