Should You Tip Staff On A Cruise? (11 13 23)

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Want help from a financial advisor but don’t want to pay a 1% annual fee? Or just need temporary help? We’ll give you and updated list of options later in this email.

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💵 How To Find a Fee-Only Fiduciary Without Paying 1% Annually

Full-service financial advisors that do much more than offer investment advice are the top of the food chain when it comes to holistic financial planning.

But what if you need individualized, substantial financial advice from a qualified person, but you don’t want to pay a 1% annual fee on your assets year in and year out?

For many years, Clark has recommended finding a fee-only fiduciary willing to charge hourly or project-based fees from the Garrett Planning Network.

On the Oct. 25 podcast, Clark acknowledged something that has been true for a while.

“We’ve had complaints about Garrett that the Garrett advisors are interested in what’s called AUM [assets under management]. Which means that they manage your money for you,” Clark says.

“But a lot of Garrett Planning people aren’t excited about the idea of just charging for advice and giving it.”

Here are some alternatives:

• Earlier in this email, we highlighted Facet Wealth. It’s a relatively new network of full-service financial advisors. Facet doesn’t use the standard annual fee AUM model or require a large amount of assets. It charges a flat rate per year based on the services you need.

• On the podcast, Clark recommended Advice-Only Network. It does not manage your investments. It offers you advice on topics that a financial advisor typically handles. Just be aware that “this is not cheap stuff,” Clark says.

• Clark also mentioned a nonprofit called Flat Fee Advisors. It offers a searchable list of advisors who offer flat-fee services.

• Betterment offers consultations with Certified Financial Plannersstarting at $299 for 45 minutes. Vanguard Personal Advisor offers some level of financial planning from a human fiduciary.

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🎙️ Podcast

It’s time for "Clark Stinks!" Christa reads the latest "Clark Stinks!" submissions and Clark responds. Also, self checkout is an option at many of the places we shop and it can be an annoying process. But automated markets are coming! Clark shares everything you need to know.

☎️ Need Money Help?

The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.

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