According to a recent study, 46% of prospective clients said the costs of a financial advisor are not transparent. This confusion is cited as the biggest hurdle for affluent potential clients to sign on with advisors-- and for good reason. Who wants to sign up for an agreement when they aren't sure how much it is going to cost them?
This confusion extends from potential clients to actual clients as well. Many people don't know exactly how much their advisor takes in fees--or worse, they believe they pay less than they do. Trust and transparency form the bedrock of any successful advisor-client relationship. It's crucial for clients to know exactly how much they are paying.
At Rainbook, our Advisor Analyzer™ delivers a clear picture of what you're actually paying in fees. Once you're armed with that knowledge, you can then make informed decisions going forward.
Read more about the report at Barron's.