- Nov 2, 2008
- Reaction score
Hey guys, I had a meeting with a financial advisor yesterday who presumably got my number from the University. They were explaining to me their reimbursement structure which involves getting fees from whatever financial institution that I am associated with for the account that they help me open. The person goes on tell me its not fee-based or assets under management (AUM). From what it sounds like... the financial institution would charge me a certain amount in management fees and they would get a portion of that. I have a self directed Roth IRA which low cost ETFs and a 403b invested the same way... does that mean that they would get a fraction of the basis point cost for the ETF? I wasn't really following them since I have never heard of the reimbursement structure. Sounds more like assets under management.