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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
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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
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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