The Tipping Point

If you have not already had the opportunity to read the book, The Tipping Point by Malcolm Gladwell, I strongly suggest that you do so. The book defines the Tipping Point as that magic moment when an idea, trend or social behavior crosses a threshold, tips, and spreads like wildfire.
 
I have been working with fee-only planners for over a dozen years, and I must admit before I did I could not tell you the difference between fee-only, fee based or fee & commission based. They all seemed alike to me.
 
That is until I had the opportunity to see how fee-only planners serve their clients.  All three compensation tiers state planners always put the client first. After being in the insurance industry for the past 30 years and knowing many fee based and commissioned brokers I can categorically state that the previous statement is simply not true.
 
I often wonder when the tipping point is going to happen in the fee-only marketplace? When will the average investor become informed about the differences between fee based, fee only, etc? Well, I am glad to at least start to see those in the mainstream financials start to recognize the difference. Below is the link to two recent articles from the Sunday New York Times clearly outlining my exact point.
 
Please share the articles and use them in your practice to help educate your clients and the public about the value a fee-only planner.

How to Get Financial Advice That Is in Your Best Interest - New York Times

Working With a Fee-Only Planner - Hybrid Long-Term Care Policies Provide Cash and Leave Some Behind - New York Times