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Money and Finances
Reply to "As an advisor, into the shark tank..."
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[quote=OTAlexFA][quote=Anonymous]It means he/she charges a fee, but also takes a cut of assets under management. That's the only way a financial advisor can make any money.[/quote] Let me clarify this statement. There is no "but also". The fee is just the percentage. I'm not like an attorney where I charge hourly consultation or retainer fees. If we find a solution that utilizes me or my firm, then we charge based upon the platform used. If it is fee based, then that percentage of AUM is all encompassing. Does that make sense or muddy the waters further?[/quote]
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