Updated Saturday, November 1, 2014 as of 6:37 AM ET

Sounding Off: Mandatory AUM Tax?

Professor John Grable touched a nerve when he suggested in Financial Planning’s current issue that a mandatory AUM tax on advisors could help make financial planning available to all American families. Actually, he touched a lot of nerves.

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Comments (6)
...and this is what they are teaching for CFP accreditation these days? Seriously? Any further rankings relative to the "Best Colleges for Financial Planning" that include this misguided socialist school of finance will seriously be questioned for integrity.

What, correctly, should be taught is that by creating a financial practice that is economically stable...1) one can take on clients of less means and net worth, but whose desires for a secure financial future are no less important to them, and be able define a strategy that ensures their financial success...and... 2) be able to have the marketing budget to fund the awareness and acquisition of this client group so it grows over time.

Maybe this professor needs to bone up on Business 101, or better yet, put is own money in play and begin practicing what we wants to preach.
Posted by James P | Monday, January 28 2013 at 10:23AM ET
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