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ACP and Bert Whitehead mentioned, Ken Robinson quoted in Financial Planning article, "Will retainer fees replace the conventional AUM model?", May 4, 2017

  
ACP and Bert Whitehead mentioned, Ken Robinson quoted in Financial Planning article, "Will retainer fees replace the conventional AUM model?", May 4, 2017

Retainer fees first emerged after a 1995 NAPFA conference presentation by the founder of the Alliance of Comprehensive Planners, Bert Whitehead. Only 11.5% of fee-only advisers use quarterly or monthly retainers, according to an estimate by Ken Robinson, an early adopter at Practical Financial Planning in Cleveland.

Robinson co-wrote a 2016 study in response, he says, to growing interest in retainers. The Department of Labor’s fiduciary rule, increased competition, a limited market for AUM clients and other factors will eventually drive advisers from AUM fees to retainers, according to the study.

“I don’t think we’ve hit that tipping point yet. I think that day is coming someday,” Robinson said.

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