Jeremy Schneider Pushes $150 Flat-Fee Advice Over AUM Models
Updated
Updated · The Guardian · May 19
Jeremy Schneider Pushes $150 Flat-Fee Advice Over AUM Models
1 articles · Updated · The Guardian · May 19
Summary
$4 million investor Jeremy Schneider says most people need human help with financial planning—not portfolio management—and argues advisers should charge flat fees rather than commissions or assets-under-management percentages.
Nectarine, the network he founded two years ago, connects clients with fiduciary planners charging $150 to $400 for one-hour sessions and up to $500 a month for ongoing support.
Schneider says commission-based advice creates the starkest conflict because advisers earn from product sales, while AUM pricing can bias them toward keeping clients' money invested instead of funding goals like buying a home.
He argues AI chatbots and robo-advisers are useful for simple investing and basic questions, but still miss legal nuance and personal context needed for decisions on housing, college and retirement.
Schneider, who sold Rentlinx for $5 million in 2015 and built Personal Finance Club to more than 700,000 followers, frames the pitch around keeping investing simple and focusing effort on spending, debt and savings habits.