I want to profile (and encourage business for) financial advisors acting as true fiduciaries to their clients.
It’s extremely profitable for advisors to sell variable annuity products or actively managed mutual funds with sales commissions or deferred sales loads.
But the good men and women who act as true financial fiduciaries don’t sell those products. And they deserve to be recognized.
If you fit the bill, I want to hear from you.
If you build:
- passive (indexed) portfolios for clients and
- charge a 1% annual fee or less,
I want to interview you in a series titled, Financial Advisors With A Conscience. I’ll also make your profile easily accessible on my homepage.
If you fit the bill, please put a comment below with your name, firm’s name and I’ll contact you.
Don’t be shy. You deserve to be recognized. And people want to find you!
Cheers, Andrew
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27 comments
ACMZ says:
November 6, 2012 at 5:22 pm (UTC 8 )
You are showing Jan 01, 1901 as posted date.
Barry says:
November 6, 2012 at 6:39 pm (UTC 8 )
Hi Andrew
I’ll have to have a look around, but there used to be a guy in our nick of the woods Travis Morien who posted on the Bogle Forums also.
His old web-site and FAQ was a veritable font of information
Fee Based seems to be the way things are going in Australia
Barry
Barry says:
November 12, 2012 at 5:12 pm (UTC 8 )
From the website
“Australian Independent Financial Advisers operates on a 100% fee for service basis, avoiding or rebating commissions to clients.
The fee is a fixed pre-determined amount or an hourly rate. The cost of the advice will be proportional to the skill and knowledge required for the type of work, the degree of responsibility applicable to the work and the time required to prepare your Statement of Advice”
See also some index investing articles here http://www.aifa.com.au/author/travism
There’s also a great resource here http://www.travismorien.com/FAQ.htm
Barry
Rob aka Captain and Mrs Slow says:
November 7, 2012 at 10:18 pm (UTC 8 )
For Canadians I can recommend Garth Turner (www.greaterfool.ca) while he’s best known as Canada’s best known housing bear he is also a very good investment adviser. I’ve met him personally and like his take on investing. While his blog is mostly focused on the coming Canadian housing meltdown he does talk enough about investing to show he knows what he’s doing.
Generally speaking if you have less than 500,000 in liquid assets it’s probably not worth seeing him.
Feel free to contact me if you have any more questions
Andrew Hallam says:
November 8, 2012 at 8:10 am (UTC 8 )
Thanks Rob,
Does Garth build portfolios of passive funds and are they diversified? If you feel he does so for less than 1% per year, and if you feel that he isn’t a market timer, I will give him a shout.
Rob aka Captain and Mrs Slow says:
November 9, 2012 at 12:25 am (UTC 8 )
On the second his fee is 1% and on the first I believe he does. I’ve followed his blog for several years and met with him once, but you’ll have to check with him on the specifics.
Hope that helps
ACMZ says:
November 12, 2012 at 8:40 am (UTC 8 )
HI Andrew,
Just wondering how Harry is doing with his account. From what I remember he was taking some of the capital out to keep a small plane flying. His wife was still working at the time and therefore had a revenue coming in. Just curious.
Regards,
ACMZ
Aram Durphy says:
November 29, 2012 at 3:33 am (UTC 8 )
Hello Andrew,
I’m not sure my business qualifies, but thought you might be interested. I have a buy-and-hold strategy with a diversified value based approach to individual stocks and bonds. I’m fee-only. I charge on a sliding scale starting at 1.4% and on down.
Regards,
Aram
Andrew Hallam says:
November 29, 2012 at 5:50 am (UTC 8 )
Thanks for asking Aram,
Your fee-based structure is certainly one of the better ones.
I’m looking for fee-based advisors charging 1% or less, who use a globally diversified, passive approach. Such an approach has higher odds of success and greater diversification than a portfolio selected by an individual stock picker.
Cheers,
Andrew
Aram Durphy says:
November 29, 2012 at 7:39 am (UTC 8 )
Hello Andrew,
OK, sounds good. Thanks for the explanation.
Regards,
Aram
Walker says:
December 17, 2012 at 10:33 am (UTC 8 )
I know Rick Ferri, who posts frequently on the Bogleheads forums runs an operation called “Portfolio Solutions” that charges something like 0.25% but I’m pretty sure it’s only available (or at least worth it) for high net worth clients.
http://www.portfoliosolutions.com/faq/
I would be interested to see if there are any advisors out there who charge that low of a fee for people with much less than the typical $500,000 minimum or so that most places seem to require. I guess for them, it’s probably a lot better to get some sound advice (maybe charged hourly?) and then once they find out how simple things can be just set it up for themselves.
Andrew Hallam says:
December 17, 2012 at 3:47 pm (UTC 8 )
Thanks Walker,
I don’t think Robert Wasilewski has a minimum account size requirement. And Assetbuilder requires just $50K
Cheers,
Andrew
The SPY Surfer says:
December 30, 2012 at 1:50 am (UTC 8 )
Hi Andrew,
I manage my own money and share my method on the net for free.
It’s here http://www.thespysurfer.com
It’s based on six global, low-correlated asset classes, including cash.
Not sure it fits the bill though I thought you might be interested…
Happy 2013!
Cheers,
FL
stock trading says:
January 3, 2013 at 9:42 am (UTC 8 )
I don’t think Financial advisers should get paid a fee, they should only work off ccommision. Pay for performance
PJ says:
January 19, 2013 at 10:26 am (UTC 8 )
Andrew Great Blog, Great Book
UK national based in Myanmar (posted under the British Expat section).
I am just about to kick start my balanced index portfolio under the guidance of Robert Wasilewski.
Excellent !!! even though I had to get up at 5am due to the time difference but well worth the effort. He has really helped clear the mist all very transparent… provided me with great direction and will check in on me as I need it.
Highly reccomend his services: WEB: http://www.rwinvestmentstrategies.com, BLOG: http://rwinvesting.blogspot.com
PS: this is not one of those “TripAdvisor” Hotel owner posing as a guest….
I can highly reccomend him contact me directly if you would like to confirm pjkab@hotmail.com
Brett Evans says:
January 22, 2013 at 1:10 pm (UTC 8 )
Hi Andrew,
we certainly fit the bill. Feel free to have a look at our website http://www.atlaswealth.com.au and to contact me at brett.evans@atlaswealth.com.au.
Cheers,
Brett
international financial advisers says:
February 21, 2013 at 8:30 am (UTC 8 )
I’m in complete agreement with a lot of the information in the following paragraphs. You certainly are a special article writer have real profit put your own views directly into apparent phrases. Anyone will be able to understand why.
Mike Finley says:
March 29, 2013 at 8:52 pm (UTC 8 )
What I do is a bit different, Andrew, but it might be of interest to you. I am retired and I currently teach financial literacy at the University of Northern Iowa in Cedar Falls, Iowa. I started a club there to inform the next generation how make wise choices with their money. I use my website to further that education and I am currently followed in 8 countries and most of the United States. Rather than making money off the average person, I give money to the average person. This makes me “crazy,” but I know it makes me happy as I share this valuable message with others. Keep up the good work. I really enjoyed your book and I recommend it often, especially to the future teachers that I speak to. Long live financial literacy!
Andrew Hallam says:
April 19, 2013 at 11:58 pm (UTC 8 )
Mike,
It’s so great to hear about what you’re doing. I’m sure you’re finding the greatest reward of all comes from the people you’re helping. It’s great to know that there are guys out there like you.
Cheers!
Andrew
Raymond says:
April 19, 2013 at 12:08 am (UTC 8 )
Hi Andrew, I do agree with you that fees and charges have a great impact on returns in the long run. However, regarding the performance of local (SG)mutual funds/unit trusts, I’m not really sure if the majority really under performs the indices, cause most of the related studies on this matter are based in the US. This is because it is not hard to find one that beats the index from the performance charts (bid to bid). An example is the Aberdeen Singapore Equity Fund. The only other charge involved is the one time sales charge of around 1% if you buy through a distributor like dollardex. What are your views on this?
Andrew Hallam says:
April 19, 2013 at 6:42 am (UTC 8 )
Most of the active funds in Singapore (as my book shows examples of) have under-performed the market Raymond. The Aberdeen Singapore Fund has an expense ratio charge AND a 1% sales fee, so it’s more expensive than most active funds in the U.S.
This is how it works in every market Raymond:
1. The collective return of all active investors will average (as they must) the market return
2. By that, half of professionally managed money will outperform the market, half will under-perform it, because they represent the market
3. After fees, more than half fall under the wire–as they must, because before fees, the average professional investor will equal the market
This is the result in every market, during every five to ten year period, always. Just like gravity, it’s an unavoidable reality.
Cheers,
Andrew
Jamie Montpellier says:
April 19, 2013 at 8:43 pm (UTC 8 )
Hi Andrew,
Wow! What a great book you’ve written! I am a former business student, mutual fund representative turned high school teacher ten years ago and I must say your means to deliver a great message to high school students is formidable.
I have since purchased my own e-series funds and dumped a very expensive/costly actively managed fund which was put together by a so-called great advisor. I wanted to pick your brain about a future transaction I wish to undertake. Like everyone else, I’m looking to purchase a home here in Canada and I’m putting a way a down payment which currently resides in a TFSA savings account. I know I’m basically at the mercy of inflation earning a whopping 0.1% but I wanted to know if you would consider TDCanadian Bond Index too volatile to nest a mortgage down payment with a possible horizon of 1-2 years.
Cheers,
JM
Amelia Greenhall at FutureAdvisor says:
April 23, 2013 at 2:35 am (UTC 8 )
Andrew – We’d love to be interviewed as part of the “Financial Advisors with a Conscience” over at FutureAdvisor. (http://futureadvisor.com)
FutureAdvisor is an online investment advisor that builds diversified, low-fee index fund portfolios for clients, and helps with rebalancing and keeping on track over the long-term.
Clients get free advice by connecting their 401k and brokerage accounts for analysis – our algorithm identifies high fee funds to be replaced, and recommends buys and sells to get to their personal asset allocation. Our premium service, which is the same flat fee of $16/mo for everyone, makes the trades to enact the recommendations automatically, and watches the portfolio to rebalance and invest new cash as necessary.
FutureAdvisor founder Bo Lu is the go-to guy for interviews around here – you can reach him at: bo@futureadvisor.com
Cheers,
Amelia
Andrew Hallam says:
April 29, 2013 at 6:15 pm (UTC 8 )
Thanks Amelia!
Your platform sounds fantastic. I’ll give Bob a shout once I’ve put some questions together.
Thanks again!
Andrew
Amelia Greenhall at FutureAdvisor says:
April 30, 2013 at 1:33 am (UTC 8 )
Great, Andrew!
It’s Bo, not Bob – an unusual name, to be sure! He’s excited to chat w/ you – loves your mission.
Andrew says:
April 23, 2013 at 11:16 pm (UTC 8 )
Hi Andrew,
Your book has been inspirational in guiding me as I begin to invest. Thank you.
Can you recommend any financial advisors in Singapore that follow your books principals and can work with Canadian expatriates living in Singapore?
Thanks for your time.
Sincerely,
Andrew
Andrew says:
April 23, 2013 at 11:19 pm (UTC 8 )
*Sorry, PRINCIPLES