Podknife - Financial Vitals - Second Opinion On AUM Financial Advisor by Financial Residency

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Financial Vitals - Second Opinion On AUM Financial Advisor

Podcast |: Financial Residency
Publisher |: Financial Residency Network
Media Type |: audio
Podknife tags |: Business,; Careers,; Interview,; Management & Marketing,; Personal Finance,; Science & Medicine
Categories Via RSS |: Business,; Careers,; Investing
Publication Date |: Dec 23, 2023
Episode Duration |: 00:11:08

On this episode, Daniel addresses common questions from potential and new clients regarding financial advisors, focusing on the AUM (Assets Under Management) model. He explains that AUM advisors charge a percentage (typically 1%) of the assets they manage, highlighting the potential impact on fees as clients' balances grow.

Daniel discusses issues related to low attention for small accounts, minimum account size requirements, and potential conflicts of interest, such as the disincentive to recommend reducing balances or advising against additional savings.

He emphasizes the importance of understanding the fee structure, potential conflicts, and the character of the advisor when considering the AUM model.

Contact Finance for Physicians Finance for Physicians To schedule a call with one of our awesome planners, book HERE.

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