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10min chapter
Fee Billing Faux Pas: How Advisors Lose Money Without Realizing It With Guest Lacey Shrum [Episode 286]
The Perfect RIA
Billing Risks for Financial Advisors
This chapter explores the critical risks tied to billing practices within the financial advisory industry, emphasizing cases of serious legal repercussions stemming from improper billing. It highlights the significant lack of oversight in fee practices and the dangers of using outdated tools like Excel for handling billings, illustrating the need for accurate, automated systems to protect both advisors and clients. The discussion also underlines the importance of transparent communication and adherence to fiduciary responsibilities regarding client fee agreements.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode