The process of engaging with an advisor is structured and efficient, beginning with expressing interest and selecting a time for a call through a web calendar. Initial set-up includes outlining offerings, clarifying expectations, discussing fees, and sending a brief material packet that allows clients to present their questions while answering some themselves. This preparation demands minimal time investment, especially with an organized portfolio, typically around 30 to 45 minutes. Following this, a comprehensive call is scheduled, lasting two hours, to delve deeper into the details. This interaction culminates in a detailed write-up or report that reflects the discussions, adding value to the overall experience.
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