There was an interesting article in today’s WSJ about the impact of automation on the financial advice business.
Quick summary: automation is forcing costs down from the traditional 1% annual fee.
I expect we’ll see more advisors moving to the hourly structure from the asset-based fee structure.
My question to you is:
Do you use a financial advisor or planner? If so, how much do you pay? If you don’t know, ask your advisor.