Summary: As the world of financial advice evolves, so do the services that advisers provide to clients, the business models by which we operate and the labels that we use to describe ourselves. In the past 50 years, our titles have changed from insurance agents and stockbrokers, to financial advisers and financial consultants, to financial planners, and now wealth managers.
 If planners and wealth managers really are going to evolve away from a portfolio-centric investment management service into these more holistic financial life management services, the AUM business model altogether may start to seem less and less relevant."Michael Kitces, director of wealth management for Pinnacle Advisory Group, co-founder of the XY Planning Network and publisher of the planning blog Nerd’s Eye View. |
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