Welcome to Awe-Inspired and Retired! Caleb and Riley are discussing the wide spectrum of financial advice and in particular what investors should expect to pay for financial advice. Financial advisors and financial planners can offer a wide range of services from tax planning to portfolio management, there can also be a wide range of fee’s for these services. In this episode we talk about what is and isn’t worth paying for (yes, some advice is not worth paying for) and how to get the biggest ‘bang for your buck’.

Learn more about:

  • What type of financial advice are worth paying for, and the research that backs it up
  • The different ways financial advisor and planners charge fee’s and what fee’s are worth paying
  • Which types of financial services are most worth paying for and when

Memorable Quotes:

  • “John Bogle famously said, ‘In investing, you get what you don’t pay for’. This should make financial advisors uncomfortable. Essentially John Bogle is saying the less you pay me the better the advice that your getting. So why not pay zero? Here’s why and we first have to differentiate between investment advice and planning advice.“
  • “I think the advice needed to make the financial decisions during the retirement transition is one of the most valuable services a financial planner can provide in todays world. It hasn’t always been this way though.“

Morningstar – Alpha, Beta, and Now… Gamma
Vanguard – Advisor Alpha
Envestnet – Capital Sigma: The Advisor Advantage

Hosted by Caleb Miller and Riley Anderson of InvestorDNA

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