When it comes to investor awareness, Hanzelka believes education is the only answer.
“Having been on the commission model, you can sit down and explain how you are going to get paid to the client and they will not remember that the next day. There has to be much more education so clients do understand,” he says. “As we move more into the age where people are a lot more informed, most will have no issue paying the fees … but it has to be presented in the right way.”
Cherry-picking your clients isn’t turning down business, it’s proof you know yourself and what you have to offer, say some advisors.