Go ahead and ask, "What does this cost?"

Go ahead and ask, "What does this cost?"

I was recently notified that my daughter’s doctor would be out of network going forward. No problem, I’ll just figure out the price to pay cash. Four phone calls later and I still did not know what the price was to visit the doctor. Worse still, the question seemed to irk the various providers. How dare I ask what the cost to visit is?????

This sort of push back in the medical world has been experienced by many of you. In the financial world, the consumer is just awakening to the reality that they are allowed to ask what financial advice and products cost. They are also learning to walk away once they learn the price. If you are dismissed for asking:

DO NOT BACK DOWN

It is a reasonable question to ask what something cost. Keep asking. Stay pleasant and keep asking. You will probably be shocked once you learn the price. My clients usually are.

The below chart is evidence of the consumer asking what a product cost. Lots of money is shifting to passive (low-cost) funds versus active (expensive) funds.

fundflows2017.jpg

 

The benefit of paying someone like me by the hour is that your cost structure is transparent and understood. That is what Robert Hunt Financial seeks to bring to the marketplace, objective and affordable financial advice.

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Where did your money go?

Where did your money go?

So you still want an actively managed fund?

So you still want an actively managed fund?