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This is not true, I used to believe that and then I met with a fee only advisor, and they did in fact want a percentage of AUM. What the fuck!

Here's what NAPFA says, https://www.napfa.org/financial-planning/what-is-fee-only-ad...:

"Fee-Only financial advisors may be paid hourly, as a retainer, as a percentage of assets (AUM), or as a flat fee, depending upon the planner you choose."

What you are describing is advice-only not fee-only. That's what I want, an advice-only advisor. Good luck finding one. I can't.

I'm probably better off just taking the Series 65 myself for now to see what parts I don't know.



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