This chapter explores the speakers' experiences with flat fee financial advisors, detailing their journey from initial engagement to post-consultation reflections. They discuss various financial advising models, the importance of objective advice during financial transitions, and the meticulous preparation required for meetings. The conversation highlights their investment strategies and the significance of targeted questions to enhance the quality of guidance received.
Here's what we learned by hiring a financial advisor for a fixed fee of $1,000. Rather than pay a costly ongoing assets under management (AUM) fee, we wanted to test out this increasingly popular fee-for-service advisement model. Eric and Jason discuss each hired the same fee-only, advice-only advisor for $1,000 to evaluate their portfolios and answer a variety of key questions. They share how they found this advisor, what the process was like, the specific questions + answers they had, and who they think could benefit from such a service. Is this the right option for you? Maybe.
Show notes: https://twosidesoffi.com/1Kadvisor