Financial AUM.... does it make sense ?

By Giorgio Canella posted 09-03-2013 10:59

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Often , when we respond to a survey or when we talk with peers, 1 question appears: THE AMOUNT OF FINANCIAL ASSETS UNDER MANAGEMENT (AUM)...and my question is: are financial AUM so important to evaluate the quality of a Planner ?...or, often, who asks this question confuses the Planner with an asset manager ?

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Leon Rousso, CFP®

12-08-2015 11:06

I would say absolutely not, but as in everything else, the bigger the better.
I have fought this for years, but it always sounds like sour grapes.
When developing achievement awards/recognitions as "best planner", "best advisor", "Top 100" etc. I agree with you , what do assets have to do with it.
If the award was for "best salesman" than I would agree.
Being a "best advisor" requites much more than simply the ability to gather assets, in my opinion.
Lets hope one day the industry actually cares about ethics, truth and other values our business is based on.
Leon

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