Episode Summary

Rick Ferri joins to discuss his latest call for a change in adviser fees. Is charging 1% of AUM fair to clients? Attorney Jason Kane discusses his firm's class-action lawsuit against embattled GPB Capital. Will investors see their money again?

Episode Notes

Interview with Jason Kane — 1:00-18:30

• GPB Capital background
• The charges against GPB
• Blurred lines over accredited investors; is this a private placement problem or a GPB problem?
• How far the GPB problems went
• The battle over remaining assets

Interview with Rick Ferri — 18:45-45:30

• Rick Ferri’s background and how low fees can work out for the adviser
• Why are ongoing portfolio management fees so high?
• The fiduciary element
• Fee-based and what the market "will bear"
• Customers' lack of awareness on fee levels
• The next generation of advisers and the outlook on fees in the industry

Guest Bios: 

Rick Ferri

Jason Kane

Relevant Article: Kitces report reignites debate over advisory fees

Relevant Article: SEC wants independent monitor to run GPB amid fraud charges