"How Much Have You Got?" — Why the AUM Model Is on Borrowed Time | Bob Veres of Inside Information

About this episode

What if the financial planning profession is more fragile than it looks? Recorded live at the Fearless Investing Summit by Nitrogen Wealth, Mike sits down with Bob Veres — veteran industry observer, writer, and publisher of the Inside Information newsletter — for one of the most candid conversations about the state of financial advice you'll hear this year.

Bob has been watching this profession evolve for decades, and he pulls no punches. From the AUM model's structural flaws, to the inertia of established firms sleepwalking toward an extinction event, to the rise of a new generation of idealistic advisors who want nothing to do with the old way of doing business — this conversation covers it all.

If you've ever felt like the profession is stuck in an awkward middle ground between what it was and what it needs to become... Bob has a name for that feeling. And more importantly, he has a vision for what comes next.

Chapters:

00:00 — Teaser: "How Much Have You Got?"

00:24 — Intro & Welcome

01:41 — The Present Is Awkward: Why Financial Planning Isn't Quite a Profession Yet

07:08 — What's Wrong With the AUM Model (And What Comes Next)

10:37 — The Next Generation of Clients and Advisors Won't Accept the Status Quo

14:05 — Inertia: The Ancient Enemy of Progress in This Profession

16:38 — The Avalanche Is Coming — And You Won't See the Last Grain of Sand

19:42 — AI Is Going to Be Huge Someday (Wink) — What It Really Means for Advisors

24:30 — The Three Reactions to New Technology (And Which One Always Wins)

26:08 — Bob's Vision: A Fiduciary Referral Network Built on Specialization

31:23 — A Bright Future — For Those Who Adapt

32:27 — Bob's Neural Network: How He Stays Sharp & How to Connect