I’m constantly asked about the topic of hiring and working with a financial advisor. I’m asked how to find a good advisor, what makes a good advisor, and how to know if you have a good one.
I’m also asked how anyone with morals or scruples could ever be a financial advisor, why anyone would ever need or want to hire a financial advisor, and how a financial advisor’s fees could possible be justified.
I hear from both sides of that debate constantly.
I’ve wanted to bring you a show on the history of financial advice and open up to you some insight into the business of financial advice. It’s finally here!
Today, we have an interview with Michael Kitces MSFS, MTAX, CFP®, CLU®, ChFC®, RHU®, REBC®, CASL®.
Michael is a leading voice and influence in the financial planning profession. He has worked in all practice models of the industry including the traditional commission model, a blended fee-and-commission practice, and he currently serves as the Director of Research for Pinnacle Advisory Group, a private wealth management firm located in Columbia, Maryland.
Enjoy today’s show where we discuss, without reservation, the business of being a professional financial advisor!
p.s., since I know some of you will probably chuckle at the silliness, this is probably a conversation between two of the most over-credentialed people in the industry. I guess both Michael and I are both decent at taking tests. You’ll have to judge for yourself if it matters or not, but between “Michael E. Kitces MSFS, MTAX, CFP®, CLU®, ChFC®, RHU®, REBC®, CASL®, CWPP™” and “Joshua J. Sheats, MSFS, CFP®, CLU®, ChFC®, CASL®, CAP®, RHU®, REBC®,” I think we’ve properly supported the financial education industry. The American College, University of Tulsa, CFP Board, and Wealth Preservation Institute can be proud.
- Michael’s About Page and formal C.V.
- Michael’s “Nerd’s Eye View” blog
- The Kitces Report: CE for financial planners
- Sophia Bera, founder of Gen Y Planning
- Matt’s firm, Mom and Dad Money
- Jared Reynolds, Financial Planning for Bass Fishermen
- Pinnacle Advisory Group, Inc.
- JobsFP.com – job placement for financial planners