There's a regular and boring attack against financial planning. "Returns > Returns - Fees". This week, we explore granting the hypothetical, if vacuous, premise and then ask how it holds up when applied to reality.

This week on The Science of Wealth, @danjstefanski and I discussed how long to stay with a company, red flags to look out for in your career path, and what to look for in a new opportunity.

The previous best estimate by Cerulli Associates was 75,000 shortage by 2033; so in a period of a year it's expected to get 33% worse based on McKinsey's estimates.

@devthompson11

@milliannw @LorilynWilson I wish you luck in the transition. But, you should probably fix the disclaimer and take down the advertising of an unregistered firm, right? Because I can't imagine you're violating the IAA by advertising an unregistered RIA and without being actively IAR licensed yourself?

@LorilynWilson @milliannw @milliannw Am I wrong that you and the RIA aren't registered but there's some sort of exemption? Again, largely unclear at the moment because the website says you're a registered RIA but the IAPD site doesn't have you or the firm's information on it?

@AdviserCounsel -the gross morale hazard of government employees and their routine indifference to the waste of tax dollars, while politicians regularly then rent-seek through additional taxes and fees to expand the scope of their pet policies and underlying administrative proxies.

@AdviserCounsel At this point I think everyone is just thinking

@honest_math Bold of you to think they ever manage to reproduce.

@LorilynWilson Neither the firm nor the wealth management employee appear to be registered? I'm not familiar with a state registered RIA not being shown in the IAPD system, subsidiary or not. If there's a parent firm, e.g., a corporate RIA, that's usually then disclosed. Thus my "?".

Splashing some white vinegar in a glass of Fresca and Rosemary doesn't suddenly mean its valid to charge $20 for a "mocktail" when a full-stack coffee drink with a fancy foam design typically tops out at $10 for the largest and fanciest version imaginable.

@jackwiseg That you somehow think that my recollection of a cherished academics valid observation of the silly nature of the analogy warrants an ad hominem attack really says everything one needs to know about you. A shame, really.

@mountainwesttax @upandtotherigh5 Heck, it's even bad up here in Longmont. City council just passed a resolution hoping to get us to a year without a bike fatality because we keep having multiple cyclists a year get plowed under by some moron texting in their Jeep while they make a turn without looking.

@AdviserCounsel @MSicuranza @TKopelman (->) and through the rest of the growth of your business." That is a very different story and value proposition, despite what is otherwise fundamentally the same. When the idea is presented transactionally as it has been, it becomes a net present value calculation.