If financial planners want to provide impartial advice to their clients, they should truly be fee-only, instead of charging additional fees on the assets they have under management. So says H. Jude Boudreaux, the founder of Upperline Financial Planning in New Orleans.

“I think that AUM creates a conflict of interest,” he said, because it encourages advisors to tell their clients to keep assets in investments, even if that is not the best choice overall.

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