Financial Advisors' Fee Structures Criticized
A financial advisor criticizes the fee structures of some financial advisors, suggesting they are misaligned with client interests. The advisor argues that the focus on Assets Under Management (AUM) incentivizes keeping money invested rather than prioritizing client security, even if it means taking on more risk. This system, the advisor claims, is designed to extract money from client accounts over time.
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Sources · 7 independent
KDKA 1020 Pittsburgh
“that lack of alignment and fees leads people to really start to think and understand like they really don't care at all If my money is at risk because they want to keep as much money in the AUM percentage bucket as possible”
Talk Radio 1210 WPHT
“the system's rigged and they are driving the system that was built to take money out of your accounts without you really thinking about it.”
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