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There are a lot of people who consider their fees low but here’s a financial advisor who claims to be charging 60-80% lower fees than the “full-service” wealth management firms who are his competition. Does he actually do this? How does he run his practice without going broke? What does low fee financial advice actually look like, from the inside? Let’s talk about it. Today I have Paul Barry, CEO of Middle Street Capital.
Can I get a whoo hoo on that?
For those of you new to my blog, my name is Sara G. I’m a CFA® charterholder and financial advisor marketing consultant.
But before we get to the podcast…
Look, there are alot of schmucks out there hawking crap products disguised as financial advice.
Don’t be fooled!
- Please subscribe to my newsletter to receive updates that raise awareness of consumer financial issues. It will teach you how to avoid shenanigans, crap products, and other scummy practices that are unfortunately common in financial advice.
- I wrote a bunch of consumer advocacy blogs here to protect people from all the BS.
- I compiled a list of low fee financial advisors for those seeking financial advice that won’t cost a fortune. However, please understand that this is not an endorsement of any particular company. Please conduct your own due diligence and come to your own decision. Also, I am under no obligation to update this list and the conditions of service offered by firms may change over time without being reflected here.
- And now let’s get on with it!
Interview with a low fee financial advisor
In this podcast, we talk about:
- How Paul structured his practice to where he is now serving over 47 households and managing assets of over $60 million
- His business philosophy and hyper focus on low fee financial advice. He believes that low fees drive higher returns, and that investors should be putting this on the top of their list.
- How he manages to provide clear and straightforward financial advice with low fees while still maintaining a profitable wealth management firm.
- The wealth management services he provides and how he keeps the cost of service low
- Investor confusion about low fees and how he helps keep the message clear and educates them, which he calls, “deprogramming”).
- How he sees the industry changing in the future and shifting towards low fee financial advice, what he believes the industry standard fees will be in the future.
- The advice he would give to other advisors who want to go down the path of providing financial advice at a low cost.
Enjoy the show!
Tips for those who are seeking financial advice for a low fee
Let me leave you with this:
#1
If you have any questions as you search for a financial advisors, send me a note. I am sick of consumers getting a raw deal and would be happy to hear your questions.
#2
I have a newsletter entirely devoted to advocacy for the consumer. The goal is to educate people so they can steer clear of the traps the financial services industry sets for them. Please subscribe to my newsletter to receive these updates so you can avoid being taken advantage of by shenanigans.
These are topics I’ve written about in the past:
Here are some examples of things Ethical Financial Advisors do
Top advisor lists are bullcrap
#3
Check out my list of low cost financial advisors for those seeking financial advice that won’t cost a fortune.
BUT:
I can’t say it enough – you have to do your own research. This is not an endorsement of anyone mentioned here, and situations could change and not be reflected here in this blog. Also, there is selection bias inherent in this list. I did not interview all the hundreds of thousands of advisors out there, I conducted research using Google, consulted with my network, and posted on social media. So this is limited to what I had access to given my resources. Again, conduct your own research; this list of low fee advisors is intended to be a starting point but by no means is it exhaustive or conclusive.
Be safe!
-Sara G
Disclosures
Grillo Investment Management, LLC does not guarantee any specific level of performance, the success of any strategy that Grillo Investment Management, LLC may use or mention in any of its content, or the success of any program it may mention in any of its content. Grillo Investment Management, LLC will strive to maintain current information however it may become out of date. Grillo Investment Management, LLC is under no obligation to advise users of subsequent changes to statements or information contained herein. This information is general in nature; for specific advice applicable to your current situation please contact a consultant or advisor. I want to be clear that nothing in this podcast or blog can be interpreted as an investment recommendation of any type, or an endorsement of any particular person or their services. The opinions expressed herein do not necessarily represent the views of Sara Grillo or Grillo Investment Management, LLC. Also, nothing in this podcast or blog can be interpreted as legal or compliance advice. For advise on such matters, contact a legal or compliance advisor. Any similarities to persons deceased or alive are entirely coincidental.
As of the time of this podcast recording and blog, Paul Barry was not a client of Sara Grillo’s marketing services. Several months after this blog and podcast were published, Paul Barry became a client of Sara Grillo’s marketing services.
