The Business of Financial Advice: Opening the Curtain on The History, Present State, and Future of Financial Advice with Michael Kitces RPF0092

Radical Personal Finance

Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP

Finance, Retirement, Insurance, Business, Money, Education, Self-improvement, Financial, Independence, Growth, Advice, Investing, Family, Personal, Radical, Christian, Faith

4.4 • 1.9K Ratings

🗓️ 30 October 2014

⏱️ 114 minutes

🔗️ Recording | iTunes | RSS

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Summary

I’m constantly asked about the topic of hiring and working with a financial advisor. I’m asked how to find a good advisor, what makes a good advisor, and how to know if you have a good one. I’m also asked how anyone with morals or scruples could ever be a financial advisor, why anyone would ever […]

Transcript

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0:00.0	Today I'm thrilled to bring you an interview, the likes of which you've never heard.
0:04.0	Would you be interested in hearing two knowledgeable and experienced financial advisors talk candidly
0:11.0	about the history of the industry, where the industry currently stands in the future
0:16.3	direction.
0:17.3	Would you like to have the curtain peeled back and some of the mystery removed from the financial advisory business.
0:25.0	If you've ever purchased financial advice, ever planned to purchase financial advice,
0:32.0	or if you've ever delivered or plan to deliver
0:34.9	financial advice to others I think you really benefit from today's show. So, Welcome to the Radical Personal Finance Podcast. My name is Joshua Sheets. Today is Thursday, October 30, 2014, and today I will be bringing you an interview with a financial
1:06.8	planning thought leader named Michael Kittsis and we're going to talk about the
1:11.7	financial planning business from every aspect, pull back the curtain
1:15.3	for you and give you some deeper understanding. I've got got a lot of questions since I've had many people ask me how do you
1:34.2	figure out how to hire a financial advisor. I've had many people ask me if I do financial advice
1:39.3	anymore. I've had many people, I've had people share stories,
1:44.1	shit you've noticed in many of the guests that I brought on the shows.
1:47.1	Some have had great advisors, some have had terrible advisors, some have been heavily
1:50.8	critical, some have not been critical. If you go online and you
1:54.3	start reading you'll find opinions from all over the map. And I've wanted to bring you
1:59.7	some discussion on financial advice, but I decided that before I got into talking about some of the technical details to teach you about the things that you need to know.
2:09.0	What does it mean if I have a planner who's a fee-only planner or a fee-based planner or a, you know, what does it mean
2:16.5	if I'm working with somebody who's a registered investment advisor or who is a broker or what
2:21.7	does it mean if somebody's business card says financial advisor
2:25.2	what does it mean if their business card says wealth management advisor what are
	...

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