The wealth management industry has a business model problem.
It’s not that advisors are bad at their jobs. It’s not that the advice is inherently wrong. The
Most advisors claim their interests are aligned with yours. “When you make money, I make money.” It sounds good. It feels reassuring.
But when you look at how
There's a puzzle in finance that nobody likes to talk about.
Investors consistently underperform the benchmarks they're trying to beat. The average equity
There's a fundamental misunderstanding about investment fees that costs people millions of dollars over their lifetimes.
Most investors aren't trying to beat the
Most financial advisors claim to be independent. But when you look at how they're structured, who they work for, and what they're incentivized to recommend, the
Yale's endowment has less than 10% of its portfolio in US stocks. Family offices, according to Goldman Sachs' 2025 survey, allocate 42% to alternatives — with