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Consumers are Getting Smarter

August 4, 2017 By Jon Luskin Leave a Comment

Prospective clients are now making amazing comments that I’ve never heard from them before:

Are you a fiduciary?

An advisor charging a percent of AUM won’t tell me to pre-pay my debt.

Why shouldn’t I just invest in index funds without you?

You can choose whatever benchmark you want to always make your performance look good.

How academic is your approach?

I think this increased intelligence on the part of consumers is a very good thing. This is because it means that clients are going to get better advice by seeking out those professionals with the skill set and the infrastructure to provide that higher-level advice – with the skill set being implementing a systemized approach and the infrastructure being opting for the fee-only and fiduciary model.

Goodbye to the Old Way of Business

Ideally, capitalism thrives on the survival of the fittest. Those advisors not bringing their game to the highest level will be passed up by increasingly-smarter consumers. The old guard won’t survive for long.

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bogleheads John C Bogle Center for Financial Literacy @bogleheads ·
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Taylor Larimore, one of the original Bogleheads and a living legend, celebrated his 99th birthday on Wednesday.

Happy birthday, dear Taylor, and thank you for your service! You inspire us to live well, help others, and be kind. Sign Taylor's "card" here: https://www.bogleheads.org/forum/viewtopic.php?t=395758

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jonluskin Jon Luskin, CFP® @jonluskin ·
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"Back-door Roth IRA" is a verb, not a noun.

It's a process for high earners to get money into Roth IRA accounts, offering tax-free growth.

#investing #taxes

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iraownersmanual IRA Owner's Manual @iraownersmanual ·
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Bogleheads® Live with Bill Bengen: Episode 35 #PFshare via @JonLuskin https://boglecenter.net/bogleheads-live-with-bill-bengen-episode-35/

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Jon Luskin is a registered investment adviser in the states of Arizona, California, Florida, Louisiana, Massachusetts, New York, North Carolina, Pennsylvania, Texas, Virginia and Washington. The Adviser may not transact business in states where it is not appropriately registered, excluded or exempted from registration. Currently, there are no states where the adviser is not appropriately registered, excluded or exempted from registration – allowing the adviser to work with anyone in any state. Individualized responses to persons that involve either the effecting of transaction in securities, or the rendering of personalized investment advice for compensation, will not be made without registration or exemption.

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