Are you still paying a percentage fee for financial advice? If the answer is yes, it's time you adapt to a new model and negotiate the terms of your deal with your advisor.
According to our Partner, Wei Ke, "The percentage-of-assets fee is well entrenched in wealth management. But it’s doomed. Percentage deals can’t compete in a world of dirt-cheap index funds and price-cutting robots."
While Ke is not questioning if the fees charged by finacial advisors is too high, he is suggesting that they come up with alternate fees structures to better match price to value.
You can read the full article, which was originally published on Forbes on 21st August 2017, by clicking here.