I'm angry about the financial industry right now, and you should be too.
Below is the 50th More Than Money podcast and by far the most honest to date. Thanks for listening and I hope you enjoy!
Get A Full Summary of The Podcast
A Common Conversation with A Single Mother, A Young Married Couple and A Pair of Empty Nesters Changed Financial Planning Forever
(Hint: It's a Good Thing For You.)
This past week, I sat down with three potentially new clients seeking honest financial advice. I heard the same comment within the first 10 minutes of us meeting together with each one. NEVER HAPPENS!
In each meeting, someone said, "I know I'm not the type of client you are looking for and I completely understand if you can't work with me."
Sadly, that makes complete sense. The financial world is broken.
Here's a quick overview...
If you don't know, there are (were) two models for financial planning.
Model #1: Fee-Based Financial Planning
This model offers an objective financial advisor paid a flat fee to manage investments or create a financial plan.
The problem is fee-based investors tend to only accept wealthy clients.
Many fee-based advisors have a minimum threshold of investments that often only appeal to the wealthiest decision makers.
So, if you're not incredibly wealthy (meaning you have $250,000, $500,000 or, in some cases, $1 million) that leaves you with option two.
Click to the next slide.
Model #2: Commission-Based Financial Planning
You've seen it advertised as F R E E financial planning. But commission-based financial advisors are paid for the products you buy.
If you're coming in for a financial plan, what you're really getting is a sales pitch.
It doesn't matter how great of an advisor or how intelligent they are as a person, because in the end they only get paid if you buy something – if it's right for you or not. At it's core it's a conflict of interest, even though some advisors mean well.
Do You See The Problem With These Financial Models? It's Driving me crazy!
Here's The Insane Part... Model #3 Just Changed The Game.
We are so frustrated seeing excellent financial planning offered as a luxury item available only to the elite that we've just released a new solution.
Model #3: MTM Financial Planning
Regardless of phase of life or your income level, you deserve to receive quality advising to help you reach your dreams.
For the first time a financial planning service is eliminating all commissions and removing asset minimums to make good advice affordable to all.
I want the kid out of college to have a plan that works for the next phase of his or her life as much as the couple in their 60's planning for the next phase of the future.
More Than Money has taken down all the barriers.
You just have to take the next step. Introduce yourself, see how easy this new model can propel you and your finances towards a hopeful future.
You deserve to reach your financial dreams just as much as any CEO.