D
Dan Murray
Guest
I've been kicking the tyres today on some wealth management sites in the U.S. - to see if I can pick up on any new trends, etc.
One thing strikes me is that many advisers describe themselves as fee only but nonetheless charge an "asset under management" (AUM) fee, whereas other advisors only operate on the basis of receiving an explicit actual payment from clients.
It seems to me that (say for on-going service) where a client has money deducted from his/her bank account each month is the more transparent approach. I'd go even further and say that AUM fees are much closer to commission than fees in nature.
I'd be interested on what others think? I'd also be interested in finding out what proportion of advisers adopt the explicit fee payment model in Ireland.
One thing strikes me is that many advisers describe themselves as fee only but nonetheless charge an "asset under management" (AUM) fee, whereas other advisors only operate on the basis of receiving an explicit actual payment from clients.
It seems to me that (say for on-going service) where a client has money deducted from his/her bank account each month is the more transparent approach. I'd go even further and say that AUM fees are much closer to commission than fees in nature.
I'd be interested on what others think? I'd also be interested in finding out what proportion of advisers adopt the explicit fee payment model in Ireland.