ADVISORY

Years ago, I was an advisor with a large firm in the financial industry. I enjoyed working with clients, but I didn't like the unavoidable conflict of interest when an advisor doubles as a salesman. We were only able to advise clients on accounts they had with our company, which left financial plans incomplete and brought steady encouragement from management to move things around. Fees were kept out of sight and out of mind, leaving clients with no idea how much they were paying for services (it tends to be a lot).

It can be a lucrative business model, which is probably why most of the financial industry operates that way. I've just never heard a good reason why the model is good for clients. As Warren Buffet said, your fees are Wall Street's income. 

To take things in a different direction, I setup Ashland Advisors as an independent, non-custodian, fee-only fiduciary advisor. That means I don't sell any products, I don't have control of your accounts, and no ongoing management fees that put a leak in your savings. 

I work with clients to develop simple, effective, and complete financial plans for an hourly fee. It's not the way most of the industry operates, but I think it's a better model for clients. You'll never see Ashland Advisors sponsoring a stadium, but if you're tired of paying someone else to do that, give me a call.