Episode Details

Send us Fan Mail

In this episode, we take a deep dive into Asset Under Management (AUM) fees—the standard 1% cut many financial advisors take from your portfolio. While 1% might sound insignificant on the surface, this quiet deduction acts like a constant leak in your financial bucket, pulling money out of your accounts regardless of whether the market goes up, down, or sideways.

What we cover in this episode:

·         The true cost of 1%: How a seemingly small fee can drain over $1.5 million from your long-term wealth over a 30-year investing horizon.

·         Misaligned incentives: Why AUM advisors are incentivized to discourage you from paying off high-interest debt, investing in real estate, or funding your own practice.

·         Artificially complex portfolios: How advisors use dozens of funds and active management strategies to create the illusion of value and justify their fee structure.

·         "Sticky Assets" and hidden costs: Why firms try to make it difficult for you to move your capital elsewhere.

·         Fee-Only vs. Fee-Based: The exact question you need to ask when interviewing a financial advisor to ensure they act as a true fiduciary.

Stop letting hidden fees compromise your financial growth. Tune in to learn how to evaluate your current advisor's compensation model and take control of your investing journey!

Please subscribe and leave a review on your favorite Podcasting platform. 

Get 12 Financial Mistakes that Keep Physicians from Building Wealth at https://www.growyourwealthymindset.com/12financialmistakes

If you want to start your path to financial freedom, start with the Financial Freedom Workbook. Download your free copy today at https://www.GrowYourWealthyMindset.com/fiworkbook

Dr. Elisa Chiang is  a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .

You can learn more about Elisa at her website or follow her on social media.

Website: https://ww.GrowYourWealthyMindset.com

Instagram https://www.instagram.com/GrowYourWealthyMindset

Facebook https://www.facebook.com/ElisaChiang

https://www.facebook.com/GrowYourWealthyMindset

YouTube: https://www.youtube.com/c/WealthyMindsetMD

Linked In: www.linkedin.com/in/ElisaChiang 

Disclaimer: The content provided in the Grow Your Wealthy Mindset Podcast...