Though you mentioned that you would probably publish the list of questions to an advisor in a blog post, I wasn't able to find one and it doesn't look like you've linked one to the video. So here is me typing after you speak: 1. What services do you provide? 2. How are you compensated? 3. How do you manage the conflicts of interest? 4. Are you a fiduciary? 5. What are your qualifications and experience? 6. Do you work alone or with a team? 7. How do you describe your ideal client? 8. What is your investment philosophy and how do you justify it? 9. What is your firm's investment philosophy? 10. What tools do you use to assess my financial situation? 11. Will you push back on my decisions if they go against my best interest?
13:53 for the military angle on this same concept, you may wish to look into “mission command” (English framing) and Auftragstaktik (the German conception)
Is there a good episode at assessing one’s financial performance with advisor? Aside from using year end CRM2 statements what else should clients do? Hard to use benchmarks since it’s difficult to compare apple 🍎 to apple. Any suggestions welcome 🙏
Another question. For low net worth clients why not just offer them services for a fee then ? It sounds very strange to an outsider how this kind of business works and if it is really in the interest of the consumers.
Still don't understand why anybody should pay a proportional fee for something other professionals do it based on the work involved ? That is something particular to your domain but things are changing and more financial advice goes to the normal pay based on services offered.
Ironically, I'd guess that the people who listen to this podcast every week are exactly the types of people who probably don't need to pay for the asset management model Ben & Cameron offer.
Yeah. And the way they justify payment for "asset under management" services, and really no option to pay a fee if you are an "entry" person. Basically they offer services to very wealthy people - just forgot to mention the bar in the "extensive justification". They are probably as many others also in Canada but things are changing.
weird to think its almost been three years for me for listening to you guys talk finance. I think i got in around episode 25 or 30.
You guys always have the best frameworks for considering financial questions, love your podcast.
Though you mentioned that you would probably publish the list of questions to an advisor in a blog post, I wasn't able to find one and it doesn't look like you've linked one to the video.
So here is me typing after you speak:
1. What services do you provide?
2. How are you compensated?
3. How do you manage the conflicts of interest?
4. Are you a fiduciary?
5. What are your qualifications and experience?
6. Do you work alone or with a team?
7. How do you describe your ideal client?
8. What is your investment philosophy and how do you justify it?
9. What is your firm's investment philosophy?
10. What tools do you use to assess my financial situation?
11. Will you push back on my decisions if they go against my best interest?
It’s on the episode webpage rationalreminder.ca/podcast/162
As always,a high quality and informative podcast.
Ben- "Good financial advice should include goal formation." 38:20
Also Ben- "I don't set goals".
Love you guys, but c'mon that's funny :)
Haha. Maybe it should be called habit formation instead.
Have to hand it to you David .. that is funny :)
13:53 for the military angle on this same concept, you may wish to look into “mission command” (English framing) and Auftragstaktik (the German conception)
Is there a good episode at assessing one’s financial performance with advisor?
Aside from using year end CRM2 statements what else should clients do?
Hard to use benchmarks since it’s difficult to compare apple 🍎 to apple.
Any suggestions welcome 🙏
Happy to hear Ben mention India. Please visit India for your next vacation
At minute 37, Cameron was wondering if the listening community appreciates the beefy answer to the listener question, YES it is appreciated!!
Just started my insurance career with Sunlife on January 1 2022
57:42 and annuities, true?
Another question. For low net worth clients why not just offer them services for a fee then ? It sounds very strange to an outsider how this kind of business works and if it is really in the interest of the consumers.
Still don't understand why anybody should pay a proportional fee for something other professionals do it based on the work involved ? That is something particular to your domain but things are changing and more financial advice goes to the normal pay based on services offered.
how tall are you, Ben? tall person with a hiking pack ... wish i lived in canada
Ironically, I'd guess that the people who listen to this podcast every week are exactly the types of people who probably don't need to pay for the asset management model Ben & Cameron offer.
Yeah. And the way they justify payment for "asset under management" services, and really no option to pay a fee if you are an "entry" person. Basically they offer services to very wealthy people - just forgot to mention the bar in the "extensive justification". They are probably as many others also in Canada but things are changing.
Sooo... the lesson, simply put, is investing regularly in a world etf ? aha