The Money Pig Podcast7 Jan 2025

Episode 80 - Misconceptions of Fee-only Advisors with Joe Beckford

In this podcast episode, host Tim Goodwin and guest Joe Beckford (affectionately called "Beckforth") discuss the role and benefits of fee-only financial advisors, addressing common misconceptions. Joe, a senior advisor at Goodwin Investment Advisory, explains that fee-only advisors are compensated solely by client fees, without commissions from third-party products. They delve into the three primary compensation models: Asset Under Management (AUM), which charges a percentage of managed assets; flat fees, which involve fixed payments; and hourly fees, billed for specific advice or services. Goodwin Investment Advisory prefers the AUM model as it aligns client and advisor interests, incentivizing portfolio growth while providing comprehensive financial planning, tax strategies, and risk management.

The discussion highlights that fee-only advisors are not inherently more expensive but focus on long-term value by minimizing fees, maximizing returns, and reducing financial anxiety. Transparency is a cornerstone of the firm's approach, with no commissions accepted since its founding, and clients are encouraged to ask about compensation and review credentials, complaints, and testimonials when selecting an advisor. The episode wraps up with a reflection on the meaningful relationships built through ongoing client engagement and a note of gratitude, emphasizing the importance of trust and collaboration in financial planning.

Det här avsnittet är hämtat från ett öppet RSS-flöde och publiceras inte av Podme. Det kan innehålla reklam.

Avsnitt(125)

The Gift Your Family Will Never Forget

In this episode of The Money Pig Podcast, Tim Goodwin and Joe Beckford dive into one of the most meaningful financial conversations families can have: how to create a legacy your loved ones will never...

15 Sep 23min

Will Your Wealth Help or Hurt Your Kids

In this powerful episode of The Money Pig Podcast, Tim Goodwin and Joe Beckford tackle one of the biggest questions wealthy families face: will your money become a blessing or a burden for your childr...

1 Sep 29min

Empty Nest, Full Life

In this heartfelt episode of The Money Pig Podcast, Tim Goodwin and Joe Beckford dive into one of life’s biggest emotional transitions: becoming empty nesters. Titled Empty Nest, Full Life, the episod...

18 Aug 20min

Serving on Non-profit Boards with Buster Wright

In this inspiring episode of The Money Pig Podcast, Tim Goodwin and Joe Beckford welcome special guest Buster Wright to unpack the real value of serving on nonprofit boards—and why it might be one of ...

4 Aug 29min

Navigating the New Trump Accounts

In this episode of The Money Pig Podcast, Tim Goodwin and Joe Beckford break down the brand-new Trump Accounts (also called 530A “Invest in America” accounts)—a potentially game-changing opportunity t...

21 Juli 27min

Financial Freedom Reimagined- Happy 250th USA

In this special Fourth of July edition of The Money Pig Podcast, hosts Tim Goodwin and Joe Beckford tackle one of the biggest questions in personal finance: what does financial freedom actually mean—a...

4 Juli 25min

What's the Point of Money if you Never Enjoy it?

In episode #118, “What’s the Point of Money If You Never Enjoy It?”, Tim and Joe explore a question many diligent savers and high earners eventually face: what is the point of building wealth if you n...

23 Juni 29min

Why Am I So Burned Out Even Though I’m Successful?

In episode #117, “Why Am I So Burned Out Even Though I’m Successful?”, Tim Goodwin and Joe Beckford unpack a question many high achievers quietly ask themselves: why do I feel exhausted when my career...

9 Juni 23min