XYPN co-founder Michael Kitces is back on the show! Today he’s here to answer some of the most common questions we get regarding what it means to be fee-only and why being a fiduciary is so important to us.
This episode’s discussion is a deep dive into the conflict of interest that arises with advisors selling insurance, the truth about commissions, and much more. If you’re on the fence about being fee-only or wondering why we require all of our advisors to sign the Fiduciary Oath, then this episode is for you.
Listen to the Full Interview:
What You'll Learn from This Episode:
- The definition of fee-only (and the part that confuses people).
- Why fee-only and fiduciary are not synonymous.
- The reason there is a conflict of interest between selling insurance and being a fiduciary.
- What makes it hard to tell the difference between salespeople and advisors.
- A major misconception about AUM.
- How to make sure your clients don’t get taken advantage of when they look for insurance.
- Why XYPN requires all of their advisors to be fiduciaries.
Featured on the Show:
- Michael Kitces: Website | Facebook | Twitter | LinkedIn
- Michael’s Comment Letter to the CFP Board On Its Proposed Fiduciary Standards Of Conduct
- XYPN VIP Community