Seek ENOUGH(sm) in The Material: seek MORE of The Spiritual

Seek ENOUGH(sm) in The Material: seek MORE of The Spiritual

(in the spiritual)

ENOUGH (Shaddai)

                                                  seek ‘more for’

                                   less distance from Hashem (Shaddai)

                                   whereas in the material seek enough

                                                   

                     The Material More...Enough....Frugality Continuum 

‘MORE, MORE, MORE(1) -----------‘enough’------------Frugality(2)

(1 man’s floor is another’s ceiling)

“enough” may potentially integrate the material & the spiritual

(aligning means with meaning ((one’s significance-task)))

to Shaddai(*)&(3)

(*) ENOUGH(sm) Jewish Personal Financial Planing is defined as:

healing personal financial anxiety, puttin’ money in its place

to elevate, transcend, connect to one’s assignment/significance –

what one is meant to do, meant to be

enough to live on, enough to live for

re-aligning means for meaning©

ENOUGH(sm) definition

(1)    More, Better, Now has a habit (materially) of becoming less, worse, later in time

(2)     In the name of FUability, frugality has a component of fear (being under the thumb) but in the name of independence.

(3) Shaddai, in Hebrew: G-d, G-d Almighty, G-d All Sufficient, Enough! (There is no word for Hashem (G-d) of the 50+++ words and phrases that translates to 'more'

Enough in the material; MORE in the spiritual

Enough in the material; MORE in the spiritual 

Relative to this  material world, from a Judaic perspective, Shaddai is Enough (see Genesis 33). If anything, we don’t own but as caretakers – shomer tov (good guardians) – rather we are to own UP to (spiritualizing the material) remembering Leviticus ‘this land is mine. You are but wayfarers.’ Thus seeking more for more’s sake and for me, my, mine – (often sacrificing what is needed -enough & Enough ((Shaddai)) - for what is not needed) has not the unusual following outcome: more (MORE) better now becomes less worse later.

In contrast, for the spiritual, we should seek to ‘accumulate’ (even pre-mature accumulation!) MORE! Why? For closer and closer proximity connection, reconnection, continuing connection - attachment to Shaddai) as ‘enough is not enough’ in continuing to complete the incompletions of our soul in this life’s soul curriculum.

********

Per Genesis, unlike the other 5 days of creation & the one day of rest, on the second day – there was no creation. There was material separation – night from day etc.

Separation (kedosh in Hebrew which also means holy) was & is necessary for order as distinct from chaos (i.e. today’s multi moralities spun as multi culturalism, diversity, and assertions of ‘my truth’ by the likes of #metoo$ue for example.) Paradoxically, while there is the cliché – out of sight,- out of mind, separation is also necessary for closeness – as absence does make the heart grow fonder. (As one Jewiss ((how’s that for lingo of the past)) once stated, after separation per the mikvah and her period, “it’s like we are honeymooners again!”)

And yet, spiritually, we seek connection, reconnection, continuing connection – attachment rather than separation. If anything, Judaically, the concept isn’t evil per se but distance separation from Hashem. Thus, in this material life, in spiritualizing the material, we are separate for our assignment/significance – our ‘orders’ - in manifesting our spark of the divine developing our chalek (portion). And with manifesting this separation / holiness for order in this material creation, there is a furthering toward connecting, reconnecting, continuing connecting for our return reducing our distance from Hashem

In materializing the spiritual – separation for closeness and order for holiness.

In spiritualizing the material there  is narrowing of distance advancing proximity, closeness – for the homecoming of return to Shaddai – The Enough.

Enough Said

Personal Financial Anxiety: Where's The Acknowledgment? Where's The Love?

Personal Financial Anxiety: Where's The Acknowledgment?

The market a few weeks ago went down 800 points on a down 26,000 or 3.5+%

Bitching

Complaining

High anxiety

Oy vey vas mir on steroids

Woe is me

• Regardless of years & years of explaining the market on the downside drops at least two times faster and the real indicator is downs that are slow dip dip dip,
• despite cautioning not to confuse the nominal with the relative (i.e the absolute amount with the percentage) over and over and over for years,
• and finally despite former clients and friends telling me they understand Enough - and managing goals not assets -

When the market was down 2.5%+ or 800 points in one day - some of these same clients/friends were bordering on hysterical with annoying fear - calling me (retired from practice over 20 years) with their concerns - heightened by the blood in the streets commentating of the personal financial pornography media & financial planners who practice 'more, more, more'

Still obviously, my advising relative to Enough was ineffective hasn't inoculated.

It's coming to you, Mister

Who made you the center of the universe, Jimmy

my father to this then 9 year old who

was complaining about a cold hot dog at Howard Johnsons

So why - the crickets - (JIMiney's Crickets???) the silence now that the 800 points - the 3.5%+ has not only been recovered and then some with the Dow hitting an all time high today over 27,000. Where is the acknowledgment?

Because 

• The Enough of managing goals not assets has not been internalized
• Given Enough hasn't been internalized - when a stock etf etc hits a high - it's 'ours' - when it declines - something - what belongs to us - has been taken - even stolen 'how dare they' 'I'll have (and am?) less!'
• Which leads to anxiety, woe is me, stupidity - cutting off the stock, etf etc to spite the goal

Had Enough - managing goals not assets - been internalized - at the very worst the question  would have been - do I still have enough relative to each goal

more, more, more - are we all morticians?

e.e. cummings

More is a living disability when there is temporary less...

More-onitis.... wonder if there is a flu shot strain for this.

Obligations, Rights & FUability

Obligations, Rights & FUability

In the modern concept of rights developed in the seventeenth and eighteenth centuries, v  formulated as "life, liberty and property" (highjacked – jds into) or  "life, liberty, and the pursuit of happiness," rights transcend civil society, which then translates them into constitutional, civil, criminal, and property rights. In contrast, the traditional Jewish view on rights is derived from the biblical sense of the obligation of all humans to God as their creator, sovereign, and covenant partner.

Daniel Elazar

One of the so called power phrases that would resonate with my fee only personal financial planning first generation entrepreneurial closed held corporation clients when I was in practice was ‘becoming independent of their independent business.’

Why?

At first glance, it would not be surprising that 80%+ of their net worth was tied up in the business – so to have ‘enough’ required a conversion of this asset and the income from it – to passive investments to have enough and minimize the dependence of their corporation.

Now digging deeper below the surface, the quest to be independent of their independent business sequentially was in excavating

          To not be dependent

                   To not be a burden

                             For dignity & avoidance of humiliation

                                       To not be obliged

                                                To not be under any one’s thumb

                                                          To not take shit

                                                                    To have FUability

          But this sequence wasn’t particular at all to the first generation closed held corporation entrepreneur.

          Initially, when prioritizing personal financial planning objectives, it is not unusual for the goal of income replacement upon disability is ranked toward the bottom relative to the other goals of retirement, financial independence, education for the kids, income replacement for the spouse upon the client’s passing etc etc etc.

          However, when ranking – what is the payoff or what is avoided by achieving each of these goals – and reranking based not to the nake of the goal – but what is the payoff (gain) or avoidance, income replacement upon disability – unless the payoff or avoidance can be self insured with liquid assets – moves up close to the top. (Same holds true for capital depletion due to long term care costs for older clients).

          Why?

To not be dependent

                   To not be a burden

                             For dignity & avoidance of humiliation

                                       To not be obliged

                                                To not be under any one’s thumb

                                                          To not take shit

                                                                    To have FUability

         

Howdy Doody Do’s & Howdy Doody Don’ts

Howdy’s Do’s (Shoulds) and Don’ts (Should Nots) for kids

The Howdy Doody Show in the ‘50s (*)

         

We don’t wish to owe – to be owing – to be obliged. And yet, Judaically, we secure our rights by fulfilling our obligations. Furthermore, given man isn’t self sufficient but requires other people, reciprocity requires mutual fulfillment of obligations to each other. Being responsible is fulfilling our obligations – by agreement in action or stored energy (currency of past actions).

          To believers in G-d, we are given inalienable rights. Still these rights are maintained – fortified by our performing individually and as a country our obligatory responsibilities. Responsible dispatching of our obligations – what we owe – what we are obliged to – in reciprocation gains and maintains rights.

          And yet, it seems – the demanding for rights, new rights is based not on obligations in reciprocation being fulfilled but on the basis of entitlement – asserting being offended & victimized with an ever increasing shrillness & violence.

It’s coming to you?

When did you become the center of the universe, Mister?

My father, Ellis Schwartz to this writer age 9 over a cold hot dog

 at Howard Johnson’s

          Give me, buy me, take me, I deserve it – I demand it –it’s coming to me’ – it’s my right – even ‘you didn’t build it’ is the manifestation of rationalization of theft – taking without payment – avoidance of the responsibility of fulfilling obligations being obliged in the name of ‘rights.’

          The wrongs of rights.

          Obligation – being obliged – without reciprocation and or meaning – means ‘having to take it.’ Obligation as a means to meaning – sheds the imposed feeling – humiliation of being forced, compelled, coerced. Obligation in the line of meaning becomes in the call of duty.

When religion is all obligation and sans personal meaning – when the cup is more important than the coffee – 45% become religion resisters who ‘are not obliged – and ‘rightfully’ so.

When you change the way you look at things,

the things you look at change

Max Plank

Obligation is the call of Meaning

Aligning – realigning one’s means with meaning expresses/conveys the sense of grateful obligation.

Howdy Doody ‘Duty’

(*) Howdy Doody was the first nationally televised American children's TV program and a prototype for what followed. Buffalo Bob Smith hosts while the puppet, Howdy Doody, starred.

Enough In The Material; Not Enough In The Spiritual

Enough In The Material;

 Not Enough In The Spiritual

(A Yom Kippur Eve Reflection on 'The Rebbe’s' Thought)

          “It’s true that our Sages teach (per Ethics of The Fathers 4:1) ‘Who is rich? One who is satisfied with what he has,’ but this applies only to material wealth.. When it comes to spiritual matters, however, a person must never be content with his current state.”

The Rebbe as told to the late Ambassador Yehudah Avner

          Thus, in material matters Enough not More; in spiritual matters More not enough – not contentment.

          Last point, it is God who is referred to also as Shaddai (God, God Almighty, Enough). And when Jacob (Yaakov) finally confronted with Esau – he gave Esau riches (though initially Esau demurred). Responding to Esau as to why Yaakov would give Esau such lavish gifts (when Esau was already wealthy), Yaakov responded, ‘I have plenty – enough.’

          When all is said and done materially and spiritually in this world, it is Hashem who is was & always will be Shaddai – ‘enough.’

ENOUGH(sm) Jewish Personal Financial Planning©: A Chiropractic Process of RE-aligning Means with Meaning

ENOUGH(sm) Jewish Personal Financial Planning©:

A Chiropractic Process of RE-aligning Means with Meaning

Number Cruncher or Goal Cruncher & Adjuster?

Personal financial planning is first & foremost managing goals. Financial planning, in contrast & in the disguise of personal financial planning is foremost managing assets for More, More, More (2)

The ‘Planner’s Role in ENOUGH: Jewish Personal Financial Planning is Chiropractic: (re-aligning means with meaning IN one’s life INside out) i.e. via fiscal adjustments for life and spiritual values & mission (assignment)

The role of the financial planner is evolving (actually being forced) to change due to demographic shifts and the compression of the assets under management compensation model. To fend off additional commodization of the compression of the traditional 1% of assets under management many planners (1) (really asset managers in personal financial planner clothing) are turning to ‘life planning’ and ‘financial therapy.’

This life & financial therapy planning, at best, is playing Mr. Rogers ‘can’t we be friends’ to minimize fee compression via ‘value added.’ The re-alignment of means – financial resources – and meaning (goals, objectives, mission – meaning) is done within empirical – actionable context – rather than ‘I feel your pain…can’t we be friends.’ (Note any planner doing ‘life planning and financial therapy’ ask for their financial plan (if they have one) and don’t accept ‘it’s in my head, now let’s talk about you.’

For real personal financial planning chiropractic re-alignment of means with meaning (putting the person back in personal financial planning) with output – see my Soul Resume: After Life Insurance and the Personal Prospectus in the 2^nd edition of Enough.

1.- by the robo planners etc (notice I don’t use the term personal in this financial planning as it is typically just financial techniques applied to personal assets not personal financial planning)

2.- more, more, more – what are we all more-ticians – e.e. cummings. More, better, now has a habit of becoming ‘less, worse, later’ - schwartz

The Will To Meaning & Enough Personal Financial Life Planning: Why We Seek More Beyond Enough (Financial)

The Will To Meaning & Enough Personal Financial Life Planning:

Why We Seek More  Beyond Enough (Financial)

Shaddai: God, God Almighty, God All Sufficient, Enough

          What is the impetus behind the hamster wheel pursuit of More beyond Enough (financially)?

There are haves, have nots, and have little want some more

(which is never Enough)

          As a retired fee only planner and author in personal financial life planning, I’ve heard many of the following ‘presentational’ rationalizations & justifications for seeking More, More, More beyond already having enough or being on track to enough (and taking additional risk):

·         Just in case ‘I need more to have Enough’

·         You never know (the fear of deprivation)

·         Enough? – just a little more (and more, and more, and more)

·         To redirect to other purposes: political, charitable, etc

·         If you are not growing you slowing

·         Invention of potential low low low risks with high seriousness (that  more wouldn’t save in any case)

·         Habituated behavior - It’s what I do and know

·         Relative comparative status

One could theorize More (and more-onic behavior) is:

• Acculturated (more is better, more solves the fear of deprivation) and thus more becomes habituated – consciously or unconsciously and or
• A function of external comparison (‘status’) pecking order for one’s validation ‘I did better than The Dow Jones therefore I am’ or ‘to beat the Dow Jones or not to beat the Dow- that is the question – tis nobler to endure the slings of outrageous market swings…”

But what is really the drive behind this ‘more – moreon – imperative’ that  it avoids while seeking means beyond financially enough (even putting enough at risk fiscally)?

Having to deal with the will to meaning (Frankel) – ‘why am I?’ and derivatively finding meaning IN one’s life to matter

Man insists not only being satisfied (enough in Latin- jds) but also on being able to satisfy; on being a need, not only having needs.

Abraham, Heschel, Man Is Not Alone, p 193

A Story 1972

          Contemplating going to be fee only personal financial planner, I interviewed many in the financial services business. I would bring up the subject of linking personal financial resources to life goals.

          In one interview with a then manager of Connecticut Mutual Life Insurance, I was stopped short before I could expound on the question with the gentleman responding:

          “You are making more of life goals and financial resources than really is the reality. The reality? We are born, we grow up, go to school, get married, retired and then we die.’

          PS Connecticut Mutual was subsequently merged out (really saved from going under)

Everything, by its nature, desires to complete itself

Learning from the Tanya, Volume 2 p122, Rabbi Adin Steinsaltz

Stipulation: Original Incompletion - the following is this writer’s foundation assumption of concept which it is man’s task is continuing to complete the incompletions of his soul INside out (spiritualizing the material, materializing the spiritual) which is in contrast to the Originals (1):

Where ideally does personal financial life planning and Enough (both financial as Shaddai) interconnect? At the ‘crossroads’ of Meaning be it @ 777 Meaning Parkway, 40 Meaning Causeway, or 18 Meaning Becauseway??

Meaning (satisfying (2)) to manifest one’s will to meaning.

In particular, this meaning is: Meaning IN one’s life to matter INside out – harmonizing & aligning meaning and the means for enough & one’s will to meaning.

Enough doesn’t guarantee meaning but rather the means if required for the pursuit of meaning INside & INsight out.

The personal financial planning business/industry (notice  profession is absent in this labeling) has failed – double crossed against ‘the light’  at the boulevard. It neglected (other than a wink if that) linking, harmonizing, let alone meaning, enough, and personal financial life planning – preferring ‘more, more, more – the ideology,’ per Edward Abbey ‘of a cancer cell.’

Who is rich? One who is satisfied with his lot.

Who is strong? One who overpowers his inclinations (3)

Ethics of the Fathers 4:1

          Finally Yaakov (Jacob) and Esau met. Both were in biblical terms wealthy. Having avoided Esau all the years for fear of Esau’s retribution for Yaakov’s finagling – conning Esau out of the birthright and blessing, Yaakov prayed, prepared for war, and now sought to appease with gifts to Esau of great great value. Initially, Esau demurred but finally accepted. When Esau inquired why the large bequests to him by Yaakov, Yaakov answered to paraphrase, ‘I have plenty – I have ENOUGH.’

          Yaakov’s ENOUGH?

          Shaddai

1.- The Originals:

• Original Defectiveness (Orthodox & Conservative Judaism) – man is deficient, lacking, flawed
• Original Dreck (Reform, Reconstructionist Judaism etc)– man is a piece of crap (inadequate) around which the world revolves
• Original Sin – I am wrong, ‘missing the mark,’ transgressing, even bad or malevolent’
• Original Innocence (Progressives – snowflakes, crybullies) - man is good – it’s the system that is bad, fix the system and all will be right in the world (OUTside In

2. – satisfied, satisfying, satisfactory  derives from the Latin for ‘enough.’ Notice how culturally we disdain ‘statis as in satisfactory’ by a ‘C’ on a report card isn’t excellent, isn’t good, it’s just average. Thus enough is imbued with merely be average which doesn’t even quality for Lake Wobegon “where all the women are strong, all the men are good-looking, and all the children are above average.".

3. – including his or her ‘more-on’ inclination

Personal Financial Pornography III – Haleria Yentas

Personal Financial Pornography III – Haleria Yentas

September 11, 2019-09-11

Yenta – gossiper, meddler, busy body – (also see Paul Krugman, academia, being ‘a contributor’ on cable news & financial news)

The market (The Dow Jones Industrial Avg) closes 27,137.04+227.61 – an all time high up from August 14^th (the world is coming to an end by the hate anything trump including the personal financial pornographic media) of 25, 479 up 1658 points – or 6.5%. Where is the hallelujah courses from these same  The Personal Financial Media Pornographers – Chalerias?.

Prediction (other than muted reporting and the patch not proportionate to the hole & holier than thou they dug – thus buried unlike their chicken little 800 point decline August 14th): they will invoke ‘not yet’ or ‘as of yet.’

Well life has a predetermined ending --- the not yet/as of yet response is dishonest spin to buy time from being accountable, responsible, and yes ‘experts’ at alarming stupidity.

These ‘experts’ – haleria yhentas.

PS: There are clawbacks in executive compensation for non performance, fraud, and failure: where is the clawback (in compensation, tenure and awards) in academia, nobel and pultizer prizes, and government for failure, non performance, and fraud for the likes and  of Krugman, Pocohauntus, CNN, Rachel Madcow, and the haleria financial media (CNBC, Bloomberg etc)???

A reminder below of my thoughts on Personal Financial Pornograph on Sept 5, 2019

Personal Financial Pornography in The Cable Media II

From:james schwartz (manofdog01@yahoo.com)

To:cavuto@foxnews.com

Cc:mediabuzz@foxnews.com; mcgurn@wsj.com; gretchen.morgenson@wsj.com; kim@wsj.com; gerard.baker@wsj.com

Date:Thursday, September 5, 2019, 8:35 AM MDT

Chaleria/Haleria – Yiddish "wreck," in the phrase "nervous choleria." A person who behaves wildly or badly.

On August 14th, during the day, the Dow Jones was as much as 800 points 3% closing down 800 points to 25,479.

The financial cable media (CNBC, Bloomberg & even Fox Business to a lesser extent) - was in a chorus - dread, horror, the world is coming to an end. If the Dow Jones was 1000 and the market was down 30 - would the financial cable media be in a lockstep ready to slit its collective wrists?

And yet today the Dow Jones on 9/5/2019 is up over 400 points to 26650 or up 1171 points since the market was 25,479 down 800 points.

Where is the champagne and hallelujahs in the cable financial media's reporting when the market is up 1171 points (oh, that's right the media, in particular, The New York Times, Washington Post are talking up recession, recession, recession for their political agenda)?

When there is a market decline - it is typically faster than the market recovering and going up and past the decline.

The stupidity of the cable financial media - is breathtaking - personal financial pornography.

Where is the scorecard - and accountability on the more, more more MOREonic pornographic financial media - crying less, less, less - the world is coming to an end - being wrong, wrong, wrong. Where is the termination of these either idiots or agenda driven per their political persuasion so called journalists?

There probable response: if it bleeds it leads blaming all but themselves.

The Personal Financial Media Pornographers – Chalerias.

Trust Is The Currency of The Personal Financial Planner; AUM (Assets under Mgmt Compensation) Devalues Trust

Trust Is The Currency of  The Personal Financial Planner;

AUM (Assets under Mgmt Compensation) Devalues Trust

Maslow famously stated, ‘if all you know is a hammer, everything looks like a nail’ and the client gets nailed (Schwartz) in personal financial planning compensation.

Behavior is a function of its consequences

Tenet of Behavior Modification

In the practice of personal financial planning, the compensation method of assets under management compensation (AUM) inherently relegates the other the other elements of personal financial planning  to second class citizen status even orphans as personal financial planning just becomes just a gateway asset gathering. Constructively, the asset manager is masquerading as a personal financial planner.

Asset protection (home, auto, blanket liability, income replacement due to disability long term care insurance), asset conservation aka estate planning (income replacement for spouse, asset disposition (giving to whom you want, what you want when you want), liquidity, estate conservation) get a wink and a nod. That said income conservation (taxes) – is a focus as the less taxes the ‘more’ assets for the asset under management compensated ‘personal’ financial planner to be remunerated from.

Furthermore, at is implicitly, assets under management, is a contraindication to personal financial planning – as it inherently seeks more – taking more risk – in the name of getting more relatively – often at the expense of making the goals with the lesser risk. Too often more, better, now becomes less, worse, later – and the goals are not met or deferred – as the result of a more-on orientation per compensation method and, therefore, managing assets instead managing goals.

Rather than being on the same side of the table as the client (mutuality of interest – the basis of trust for the client) – the trust currency is devalued by AUM compensation (regardless of the pitch ‘when you win, we win.” In AUM personal financial planning, the client is further conditioned to focus on external comparison (i.e. Dow Jones, S&P etc while maybe a wink and a nod to goals. As a result in down markets, in particular, clients forget comprehensive planning – let alone do we still have ‘enough’ relative to each goal – and concentrate on how their portfolios are doing relative to ‘the market.’ Note: complaining is not unusual.

External comparison becomes the natural perspective & filter of AUM compensation – rather than goals being the basis of comparison. Thus the planner inherently – consciously or subconsciously – focuses on managing assets rather than managing goals.

Side Bar: Trust Me

How do you say ‘f**k you’ in Yiddish?.....

Trust Me

(Trust Me: is also a ‘60’s date movie theatre game with a high school date beginning with arm around the shoulder moving towards …. while at each movement asking permission via the question ‘trust me?”)

          Assets under management compensated planners will counter: if you lose – we lose (lower fees). That is a point of comparative more or less as the scorecard becoming the focus rather than on track, not on track (to meeting the goal(s)) and or goal preserved or not. Further’more,’ getting more at the expense of higher unneeded risk – jeopardizes the goal for the upside of planner AUM compensation which may not have been necessary. Consciously or unconsciously, AUM can be contrary to: the essence of trust: mutuality of interest, being on the same side of the table, and objectivity – the currency of trust – the very essence of the concept of fiduciary. This does not mean an AUM compensated planner cannot be trusted & objective – but rather the AUM compensation method is not inherently congruent to trust and objectivity.

There is no compensation method without conflicts or bias – apologists would say. Granted – if anything:

·         hourly compensation can lead to clients’ not calling for fear the meter is always running – and to the detriment after the fact to their goals.

·         Transaction (commission or fee & commission so called planning) is often just a delivery system for sales.

·         A flat fee or bracket fee compensation method gives client’s the assurance – that the planner, whether in cash or securities or whatever gets the same compensation, and therefore not motivated to take more risk or to do more transactions than necessary – but it too is assurance of a planner not having bias.

One could argue the bracketed fee (between x and y – if fee – based to hours - goes over hours allotted, the planner received no additional compensation. However, if the hours expended are less than allotted, the planner benefits. One could argue that is in the planners best interest to under utilize his or her hours. But, if the bracketed fee is such that the client knows – the bracket would be reexamined next year – that minimizes but does not the problem in either over and under utilization.

To compare the inherent conflicts of flat fee, bracketed fee with AUM  to is analogous to going 60 in a 55 mile an hour zone (flat fee, bracketed fee) with the potential of going 120 mph (AUM or transaction based compensation) There is no equivalency. As Thomas Sowell once said, there are no solutions only tradeoffs.

Regardless, the days are coming to an end for AUM personal financial planning compensation due to compression of percentages charged by competition even robo advisors. Now on the horizon is even subscription personal financial planning.

A True Story

          Years ago (in the late ‘80s), a commission based planner asked my advice as to how to transition to fee only planning. And in particular, what to say to this commission based clients.

          I gave him to alternatives:

          1) – tell the clients 12 months from now – you will be fully compensated on a fee only basis – but they had a choice to continue paying by commissions or going to fee only now but in 12 months regardless you will be fee only charging a quarterly fee OR

          2) – tell them you are sorry that you have been shtupping them all these years– and do not wish to do that any long. So you are immediately going to fee only personal financial planning compensation hoping they will understand get on board. Offer a jar of Vaseline™ concurrent as an ‘I’m sorry’ – literally and metaphorically.  

********

So, the challenge and choice for AUM compensation personal financial planners’ is whether they immediately lead the charge (and change of compensation charging from AUM) or be charged (with client retention loss) in effect becoming a rotary phone in the smartphone era.