Ep #127: Alan & Kitces Unhinged - Fee-only, Fiduciary, and Why It All Matters

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:

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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