Search

THE EVOLUTION OF THE PERSONAL CFO MOVEMENT

The Evolution Of The Personal CFO


First people were selling life insurance.


Then you had people selling mutual funds on commissions.


Then you had a shift towards people managing assets for an advisory fee.


Now you have more of a shift towards a dynamic blend between fixed fee planning and Assets Under Management.


Clients want a trusted adviser.


Clients want a Personal CFO.


Every one of those shifts is almost always client driven.


It wasn’t the industry saying, we want to sell on commission vs we want to charge for asset management...


It was that people didn't just want life insurance.


So the industry responded by saying “Alright, let's sell them some loaded mutual funds.


Let's package mutual funds.


When the industry shifted towards asset management, it wasn't just this because it was a “better business model”, it was because clients wanted to pay on an ongoing basis for their money to be managed.


Now we have clients saying “we want to pay a fee for an ongoing relationship for you to be the person that is integral to all of my planning and decision making.

0 views0 comments

Recent Posts

See All

100K IN RECURRING REVENUE. You wake up January 1 and by December, 31st your financial planning practice has brought in 100k net before you sell a single insurance policy, annuity or one time financial

"I'm a big girl!" That's what Addie has been saying these days. It's true. Sometimes life moves so fast day to day that you don't even realize how fast it is moving year to year. Today was one of thos

Today is my birthday. 33 years young. I like to work on my birthday. I know some people take off, but I LOVE building, creating and doing. That's the beauty of working for yourself right? I have been