1 hr 15 min

Michael Kitces – The Past, Present & Future of Financial Advice Invest Like the Best with Patrick O'Shaughnessy

    • Investing

My guest this week is Michael Kitces, who is one of our industries go-to experts on all things financial advise and financial planning.
We discuss the past, present, and future of financial advise, financial technology, and investing. If you are a financial advisor or use one, this conversation is full of great history and perspective. Please enjoy.
For more episodes go to InvestorFieldGuide.com/podcast.
Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub.
Follow Patrick on Twitter at @patrick_oshag
 
Show Notes
1:08 - (First Question) – History of financial planning/advice model
5:26 – Fee changes in the 1970’s
10:01 – The start of the AUM model
10:44 – Value proposition for financial advisors beyond trading vs robo-advsiors
            11:49 – Why Robo-Advisors Will Be No Threat To Real Advisors
18:20 – Why are humans still dominating the space
23:58 – Future of advisor fees
32:50 – Viability of the human driven flat fee model
37:50 – The dominance of flat fee models
43:13 – What services are financial advisors offering to justify their fees
47:17 – Dimensions to divide potential customers
52:20 – Exciting updates on the investment side that will help differentiate managers
55:37 – Any investment function beyond the basics that is intriguing to him
58:45 – Most interesting problems to be solved on the investing and non-investing sides
1:04:52 – Advice for young advisors
1:09:24 – How does he invest his own money
1:11:31 – Kindest thing anyone has done for Michael
 
Learn More
For more episodes go to InvestorFieldGuide.com/podcast. 
Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub
Follow Patrick on twitter at @patrick_oshag

My guest this week is Michael Kitces, who is one of our industries go-to experts on all things financial advise and financial planning.
We discuss the past, present, and future of financial advise, financial technology, and investing. If you are a financial advisor or use one, this conversation is full of great history and perspective. Please enjoy.
For more episodes go to InvestorFieldGuide.com/podcast.
Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub.
Follow Patrick on Twitter at @patrick_oshag
 
Show Notes
1:08 - (First Question) – History of financial planning/advice model
5:26 – Fee changes in the 1970’s
10:01 – The start of the AUM model
10:44 – Value proposition for financial advisors beyond trading vs robo-advsiors
            11:49 – Why Robo-Advisors Will Be No Threat To Real Advisors
18:20 – Why are humans still dominating the space
23:58 – Future of advisor fees
32:50 – Viability of the human driven flat fee model
37:50 – The dominance of flat fee models
43:13 – What services are financial advisors offering to justify their fees
47:17 – Dimensions to divide potential customers
52:20 – Exciting updates on the investment side that will help differentiate managers
55:37 – Any investment function beyond the basics that is intriguing to him
58:45 – Most interesting problems to be solved on the investing and non-investing sides
1:04:52 – Advice for young advisors
1:09:24 – How does he invest his own money
1:11:31 – Kindest thing anyone has done for Michael
 
Learn More
For more episodes go to InvestorFieldGuide.com/podcast. 
Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub
Follow Patrick on twitter at @patrick_oshag

1 hr 15 min

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