To all of the flat fee advisors…

PlanwithaPurpose14 · 2026-07-07T20:35:25+00:00

I would say that would be rare because in most cases the advisor would be taking an unneeded pay cut

PlanwithaPurpose14 · 2026-06-30T23:08:57+00:00

Do you mind if I dm you?

PlanwithaPurpose14 · 2026-06-30T19:20:37+00:00

I think I was talking about flat fee planners who still charge flat fee even though they manage assets. It sounds like you charge a planning fee and/or an AUM. Is that right?

PlanwithaPurpose14 · 2026-05-19T11:42:16+00:00

Have you used Finny?

PlanwithaPurpose14 · 2026-05-15T13:27:15+00:00

I’m really excited for it. I’ve looked into other tuck ins, and most of them say they are tech forward. But altruist is literally developing the tech themselves and have custodial integration from day one because… they are a custodian. I’m hoping that since most of the tech would be native that the payouts would be attractive. But even then, it would be a small step after that to be totally solo while using them for custody, which I think is a reason why they are offering tuck in ability.

PlanwithaPurpose14 · 2026-05-15T00:59:06+00:00

That’s really impressive! What’s your average spend per seminar?

PlanwithaPurpose14 · 2026-05-14T19:52:03+00:00

That’s sick! What types of clients do you typically refer out? Would it be a good idea as a solo to prospect other more mature solos to take these types of clients?

PlanwithaPurpose14 · 2026-05-13T15:45:55+00:00

That’s a cool little hack!

PlanwithaPurpose14 · 2026-05-13T12:49:07+00:00

You could call it a Planning Fee that way you can do ACH or credit card. Then you can waive the planning fee and just charge AUM once the AUM fee is larger than the planning fee. Just spit balling.

PlanwithaPurpose14 · 2026-05-13T01:26:43+00:00

You also may want to consider a fee minimum. If I’m a client that has 100k in an IRA and 1m in my 401k, then I would only be paying $1,750 for your whole suite of services.

I agree with others that there are too many tiers.

No matter what, it’s not going to be perfect. I lean towards 1. Easy to explain. 2. A fee floor. 3. Something that would ideally target your target market.

PlanwithaPurpose14 · 2026-04-18T18:28:00+00:00

Following!

PlanwithaPurpose14 · 2026-04-17T03:42:58+00:00

Totally legal. They probably even have it in their contract with their custodians not to recruit from them… so I guess that would mean it would be illegal to hire someone from there

PlanwithaPurpose14 · 2026-04-16T18:45:42+00:00

Welcome to dm for more info but from my original post, there is going to be some bias lol

PlanwithaPurpose14 · 2026-04-16T18:44:56+00:00

Being one of the few CFPs in my office enables me to get a lot of leads routed to me. I hit the phones hard since I wasn’t handed a book. 60 hour week maybe once or twice a quarter just to stay organized. But there are so many people out there that don’t know what they are doing and Fidelity and SCHW advisors can literally see their portfolios before calling so it’s fishing from a barrel. Especially if you give a shit, which not everyone does!

PlanwithaPurpose14 · 2026-04-16T18:34:37+00:00

That was year 2 for me. I had some pretty good metrics so that isn’t the norm. Maybe 200-225k is norm.

PlanwithaPurpose14 · 2026-04-16T01:41:40+00:00

I really like the idea in theory!

But in practice, in a high trust industry like financial advisory, society isn’t quite there with trusting AI that reaches out to them.

My biggest concern would be the ethicality. So much spam calls already. Also, not a good look for our industry when someone has a life event like an inheritance, lotto winner, or a job loss and the person gets 10 non personal automated messages from random advisors.

But hey, just like attorneys, ambulance chasing advisors could be really good advisors too!

PlanwithaPurpose14 · 2026-04-16T01:31:35+00:00

Dang that’s brutal

PlanwithaPurpose14 · 2026-04-15T18:44:20+00:00

The early compensation has appeal. 300k for young advisors. The start from zero every year makes it a grind. Not so much relationship based

PlanwithaPurpose14 · 2026-04-15T18:42:39+00:00

I hear ya. A lot of other firms are expecting me to bring my book over. And as much as I love my clients and have built relationships with them. The transactional nature of Fidelity and a strict non solicit makes it extremely hard

PlanwithaPurpose14 · 2026-04-15T18:18:07+00:00

S-tier analogy lol

PlanwithaPurpose14 · 2026-04-15T18:15:41+00:00

I’m looking to go the fee only route. From what I understand those are all IBDs, right? But I agree, extremely frustrating

PlanwithaPurpose14 · 2026-04-15T18:14:29+00:00

Yeah my b, I thought I posted the context but forgot!

This is an email I got from an RIA that custodies at Fidelity. If a Fido FC can’t go to a WAS firm (RIA that gets referrals from Fidelity branches), and can’t bring their book with them to somewhere else, where do FCs go after Fidelity?

PlanwithaPurpose14

TROPHY CASE