<https://www.early-retirement.org/threads/financial-advisors-were-here-for-you.17997/>
<http://schema.org/articleBody>
"I subscribe to the print edition of Bloomberg Wealth Manager, a free industry rag for financial advisors. (It's always good to read your enemy's tactical manuals.) The July/August print edition had an article about \"Advisor-free plans\" implying that the industry will implode if investors actually start doing their own investing. In a letter to the editor, here's what James P. Martin, CFA & chief investments officer of Greystone Financial Group, Inc., in Troy MI had to say about that:\n\n\"If I provide incremental value to my clients by helping them make good financial decisions then others will seek my services. The short-term loss of revenue I might incur by consuming assets under management (by paying down client debt) will be overwhelmed by the revenue I will enjoy from attracting new clients & assets. We have numerous clients who would likely have accumulated and kept very little were it not for the discipline we impose and the education we provide. We do not expect to beat the market year in and year out. Our goal is to help clients do better than they would do by themselves. Using that criterion, our fees are an absolute bargain. In fact, we're even considering raising them.\"\n\nI'm not sure how I'd determine whether he can do better for me than I'd do for myself-- especially with index funds. And is that before or after his fees?\n\nI don't know if anyone actually has any money with this guy, but I thought that you'd appreciate the warning that the \"bargain\" is about to change..."
<https://www.early-retirement.org/threads/financial-advisors-were-here-for-you.17997/>