An unthinkable way to charge
It really is unthinkable isn’t it?
What serious professional would charge you – according to your wealth?What serious professional would charge you - according to your wealth?Click To Tweet
- Your dentist?
- Your private surgeon?
- Your fitness instructor?
- Your accountant or solicitor?
- Your hairdresser – I don’t know much about these 😉
No, none of them except your wealth manager or financial adviser.
And this is just ONE reason to learn the basics about your money.
You see there are some big problems with ‘advice’ in the world today.
And too many to cover in one Insight here – but we will cover them all over time.
Or if you want all the answers now – just grab a copy of my book ‘Who misleads you about money?’
But let’s focus on one BIG issue right now
Good quality advice at a fair price is difficult to find, anywhere in the world – and the reason is simple.
Most advisers seek to charge fees as a percentage of your funds.
And whilst some advisers will discount their percentage fees on larger funds – many do not.
So they earn ten times as much for advice on a £250,000 portfolio as they do on just £25,000!
And for obvious reasons, this means that a lot of advisers focus on helping wealthier clients.
Which, in turn means that, if you’re not (yet) wealthy . . .
. . . you will struggle to find a high quality adviser who wants to take you on 🙁
So stay tuned to this site – where we aim to help you 🙂
Indeed, even if you are wealthy (and have your own adviser) the ideas you’ll find here might help you work out if the advice you’re getting is worth what you’re paying for it!
Adviser charges can range from a few hundred to well over ten thousand pounds.
So, you might say that, like our Rhino adviser friend here, some of them like to ‘charge a lot’ !!
To get an idea of just how much they might try to charge you – or already be charging you – head over here.
And remember that not all advisers give great advice all the time either – even when they charge a lot.
Quality and price are not always connected in this game 🙁
The good news is that you can seek out quality AND at a good price.
You just need to know how and where to look.
And if you need some help with that . . . give me a shout.
It’s all part of my financial coaching and education service
In the meantime . . . take care out there
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