Stop Saying 1% – Spell It Out in Dollars!

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If you believe that 1% of AUM is transparent, you’re overlooking one obvious thing. Most of your prospects struggle to do basic math in their head.

Spell it out in hard dollars!

I don’t care if nobody likes me after I’m done. Pull up a chair and grab some popcorn.

Intentionally misleading or disconnected from reality?

Advisors say things on their websites, including that they:

Take the time to know who prospects are and how they think;
Help prospects understand their relationship with money;
Put client needs first;
Embrace transparency in all aspects of their practice; and
Have clear and easy-to-understand fees

Then why, and I mean why on earth, don’t any of you comprehend that nobody knows how much a 1% fee is going to cost them in dollars?

I wonder, do any of you realize that the person sitting across the table from you (unless they are an engineer, whom you all hate working with) has no clue how to do simple math in their head? Or is it that you do comprehend, but you would prefer to be a little bit less transparent about the hard dollar amount?