Justin Duft, director for advanced planning at Commonwealth Financial Network, says switching to separate planning fees from an asset-based fee can be a hard conversation to have with clients.
The sale of Wells Fargo’s asset management unit is expected to have a “small, immaterial” impact on the bank’s bottom line, according to its chief financial officer.
Fusion Family Wealth’s CEO says investors’ pandemic-related fears have driven emotional responses to financial markets to levels he had not seen in his three decades in the advisory industry.
The new offering expands on the company’s previous model portfolios by allowing most exchange-traded funds rather than only those that are part of Betterment Core Portfolio Strategy.
Advisors with the skill set to do true holistic financial planning can easily generate revenue that could replace lost AUM due to fee compression, says Commonwealth Financial Network's Justin Duft.