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

By #ACP ACP posted 05-30-2017 10:34 AM

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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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