Michael Kitces, a CFP and creator of the popular blog Nerds Eye View, shares his deep insights into the financial planning industry. He discusses how to find trustworthy advisors and explores the gender gap in the profession, revealing why only 23% of CFPs are women. Kitces emphasizes the importance of relationship dynamics in financial advising, suggesting therapy training for advisors. The conversation also touches on how consumer protection and coaching can enhance the advisory experience, making financial wellness accessible for everyone.
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insights INSIGHT
Advisors vs Salespeople in Finance
The financial advisory industry confuses salespeople with true advisors, muddying public trust.
Actual fiduciary advisors differ by law, training, and standards but are hard to identify due to industry practices.
insights INSIGHT
Fiduciary Advisors Are Winning Slowly
The fiduciary advice sector is growing and winning public opinion but progress remains slow.
True financial advisors may become a majority within 10-15 years, aligning with professions like doctors or lawyers.
volunteer_activism ADVICE
How To Spot a Real Advisor
Seek advisors who work only at registered investment advisors (RIA) and are fee-only without sales commissions.
Confirm they hold CFP certification and suit your client profile; ensure communication comfort for best results.
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Today Dr. Dahle talks with Michael Kitces, creator of the popular blog Nerds Eye View. He is a CFP (along with many other designations) who has a passion for educating. His platform is huge and he knows more about financial planning and the financial planning industry than just about anyone out there. Today they tackle a range of topics with the higher level focus on the state of the financial planning industry. Michael shares valuable insight on how to find a trust worthy advisor, why he thinks there are so many fewer women working in the financial advising industry, if therapy training should be required for financial advisors and if the good guys in the industry are winning in the court of public opinion. We know you will love those topics and so many others from todays conversation.
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The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you!
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