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WCI #380: Michael Kitces on the State of Financial Planning

White Coat Investor Podcast

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The Costs and Models of Financial Advising

This chapter explores the various costs involved in hiring financial advisors and compares these with other professional services such as law and accounting. It discusses different fee structures, including hourly billing, AUM, and subscription models, highlighting their impact on client-advisor relationships and advisor productivity. The chapter also sheds light on the challenges financial advisors face in client acquisition and service provision, emphasizing the importance of understanding pricing to ensure value for clients.

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