Image Credit: Rob Wilson
By Jason Zweig | April 5, 2019 11:30 a.m. ET
How you pay for financial advice can be as important as how much you pay.
On March 28, Charles Schwab Corp., the discount broker and investment-advisory firm, launched what it calls Schwab Intelligent Portfolios Premium. After an initial $300 fee, the service costs $30 per month.
For that, Schwab will manage investment portfolios with no annoying annual fee slapped on top—and will provide unlimited access to financial planners and online tools that can help clients set objectives, define risks, minimize taxes, save for college, finance a home, manage debt and so on.
Paying for financial planning by monthly subscription is a radical break from business as usual.…
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For further reading:
Books:
Benjamin Graham, The Intelligent Investor
Jason Zweig, The Devil’s Financial Dictionary
Jason Zweig, Your Money and Your Brain
Jason Zweig, The Little Book of Safe Money
Articles and other resources:
The Key to the Best Financial Advice: ‘Humility in Large Doses’