“Why would I pay a financial advisor an ongoing fee when I could just manage the money myself?” It is a fair question. In fact, it is probably one of the most important questions someone can ask before hiring an advisor. Many people frame this question around the “1% advisor fee.” That phrase is often used as shorthand for an assets-under-management, or AUM, fee model. But actual advisory fees vary by firm, service model, account size, and scope of work. At Parkmount Financial Partners, the...

First: The Problem Hiding in Plain Sight For most of our working lives, retirement planning is framed around accumulation. How much should we save? How should we invest? What rate of return is realistic? Will the portfolio be large enough? These are sensible questions. Necessary questions. For decades, they sit at the center of financial life, shaping decisions large and small—how aggressively to save, how much risk to take, when to exercise stock options, whether to pay down a mortgage,...

Many people go shopping online for and advisor and properly do their research. But, believe it or not, most people don’t wake up and decide to “hire a financial advisor.” They meet one. A friend introduces them. A coworker makes a referral. Someone says, “You should talk to my advisor — he works with Northwestern Mutual.” That feels safe. Recognizable brand. Established company. Professional presentation. And that’s often where the relationship begins. But here’s something most people don’t...