Richard CanfieldPodcast Host and IBC Advisor, Ascendant Financial · Authorized Infinite Banking Practitioner | Author of 4 Books

Stop Paying 1% Advisor Fees!

11 Dec 2024 · 1 min

Watch on YouTube

0:40

A financial-advice-focused talk in which the speaker (an advisor) explains they sold their advisory book of business after realizing traditional advisors often charge ~1% fees that benefit the advisor as assets grow. The speaker's current aim is to teach people to manage money without paying high adviser fees and to avoid giving away two-thirds of potential returns.

Chapters

What I was really doing was I was helping to build mine. Because, you know, as a traditional advisor, we charge a fee generally around 1%. The more assets that I accumulated. I was helping to strengthen my balance sheet for when I one day was going to sell my book of business. And it just got to a point in my life where I couldn't do this anymore. I had to be really honest with myself and spoke to some people within my firm. I sold my book of business, and I decided that I was going to go against the grain, and I was really going to teach people how to play the game of money and teach them that you, you don't need the help of a financial advisor charging you a 1% fee. You don't need to be taking all the risk and giving 2/3 away.