Personally, I don't see how that is any different than the guy at Smith Barney or AG Edwards or any other brokerage house, particularly as they all get that same flat fee.As a fee-only planner who works on a strictly retainer or hourly basis I agree with you but only to a point.You make a very valid point.Especially your point to increase the value of the account to get the AUM fee.Three things I see that AUM people doing that may/maynot be in the best interests of their clients.1. Declining to Pay off a mortgage2. Taking SS benes early3. Not recommending a fixed annuityDifferences:A. Many fee-only planners work for substantially less than their brokerage brethren. B. The brokerage folks may use mutual funds that pay trail commissionsC. The brokerage folks may recommend insurance products that pay them commission.D. Many but not all fee-only planners use mutual funds or etfs with much lower annual expenses that the brokerage guys.1% annually for the value of your home...whoa! But it's good work...if you can get it.buzman
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