Andy Panko

[Andy Panko @AndyPanko]

@markcecchini @Eric_M_Courage What makes it “not at all” what you’re going for? What he espouses, including through his paid group, is charging % of AUM, becoming a “top” firm, building out efficiency and systems, having high margins, making a lot of personal income, having and guarding personal time, etc

[Andy Panko @AndyPanko]

@Eric_M_Courage Great examples of how many areas of planning needs and complexities advisors can get involved in to add value. And often they don’t directly relate to investable assets under management, let alone the size of those assets. Good advising is so much beyond AUM

[Andy Panko @AndyPanko]

@markcecchini @pointingbasis Fascinating, thanks. You're killing it. And your clients are helping subsidize Quadrant providing advisory services to the lower net worth clients. Such as the ~500 non-HNWI individual clients who averaged ~$317k of AUM and ~$4.8k of fee as of Quadrant's recent ADV. But it works.

[Andy Panko @AndyPanko]

@barrylmoss @markcecchini Or, more accurately said, "we do better when the amount of assets you have under our management is larger." But larger AUM for the advisor doesn't necessarily mean the client is doing better, as you know.

[Andy Panko @AndyPanko]

@AdvisorTaylor @markcecchini If we all (including clients) are winning together in ways that are as minimally mutually unfair and illogical in how the services provided are charged for, then we definitely all should be supporting everyone winning together.

[Andy Panko @AndyPanko]

@markcecchini @Lenny_Hirst Plenty of advisors have plenty of clients paying less than $10k/yr in fees. Many who charge flat fees (that include management of investments) charge over $10k. Folks who don't like this cohort are typically a combination of threatened, close-minded, and/or stuck in inertia

[Andy Panko @AndyPanko]

@markcecchini You're welcome, I suppose. Good to know consumers are aware of their options. Doesn't mean it's always best for them, but the fact that people are routinely asking you about alternate service models means the awareness is spreading. Which happens slowly, then all at once

[Andy Panko @AndyPanko]

@bryanhasling @scottndricks @markcecchini What is the basis to say $47k/yr in fees is "stellar" for $7.8mm of assets? Stellar relative to what most of the industry would charge? Or stellar in absolute dollar terms, regardless of comparisons to what typical firms would charge? And if the latter, what makes it stellar?

[Andy Panko @AndyPanko]

@WesternLevel @markcecchini @WesternLevel Can you share your firm's audited annual returns from the last 10 years? Thanks.

[Andy Panko @AndyPanko]

@jaygcapps @markcecchini @jaygcapps The fee charged by many flat fee advisors is more than what the person could pay under a % of AUM structure. Flat fee isn't about trying to be cheap. It's about trying to be less illogical, less arbitrary and less mutually unfair than other fee models.

[Andy Panko @AndyPanko]

@NYCKevinBrady @markcecchini @NYCKevinBrady Thankfully for consumers the battle is becoming less steep of an uphill as more and more good advisors are starting to offer flat fees. And in 10 years, even more so.

[Andy Panko @AndyPanko]

@Lenny_Hirst @markcecchini @Lenny_Hirst The hotel analogy is an interesting one. It doesn't apply to the % of AUM vs flat fee thing though. Many who charge flat fees charge more than most % of AUM advisors charge. Flat fee isn't about being cheap; it's about being less illogical and less unfair than % AUM

[Andy Panko @AndyPanko]

@AdvisorJobs @markcecchini Flat fee is a newcomer. % of AUM is, and has been, the status quo for a long time, so it's no surprise it's what the vast majority of the industry, both top tier and bottom tier advisors alike, currently use. And % of AUM can no doubt lead to higher revenue and firm valuations

[Andy Panko @AndyPanko]

@pointingbasis @markcecchini Mark appears to deal with small and medium business owners, and tech employees. In both cases, it's common they might not have a lot of AUM that can be managed and billed on. Flat fee could actually help Mark not undercharge compared to % of AUM, in these cases

[Andy Panko @AndyPanko]

@Airborne_Toxic I just listed to Glory…love it! I’m looking forward to seeing you all at the Fillmore in Philly in September

[Andy Panko @AndyPanko]

@WaxmanSuccess I’ll bring it up a third time, on a third social media platform; why do you keep saying IULs are guaranteed to have “no loss?” It’s already been brought to your attention that it’s categorically false to make that claim.

[Andy Panko @AndyPanko]

@RetireMeASAP Maybe if your kids’ birthdays were to the back and with a little slack

[Andy Panko @AndyPanko]

@ACTIVEnetwork how long will it take for you to issue refunds for events paid through you which have since been cancelled? This past weekend I had a race I paid for through you. The race was obviously cancelled. The race organizer said you're not responding to them about refunds.