When Sheryl Garrett moved her financial advisory practice to an hourly-fee compensation model 17 years ago, former colleagues and industry peers called her an "absolute idiot."
"I certainly wasn't the first to do so, but it was extremely rare then for people to charge an hourly fee for financial advice," said Garrett, founder of Arkansas-based Garrett Planning Network, a channel of about 320 RIAs around the country who set an hourly rate for their services.
Since then, she's been working behind the scenes for years with other industry voices in calling for heightened fiduciary standards to be applied throughout the industry.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
