The Financial Advisor Podcast with Fexingo: Working with Planners, Fiduciary Duty, and Advice

In this episode of The Financial Advisor Podcast, Lucas and Luna break down the different ways financial advisors earn their income — from commissions and fee-only structures to fee-based models and the rise of flat retainer planning. They examine a real-world case: a couple paying 1.2% on a $2 million portfolio versus a $10,000 annual retainer, and what those numbers mean for the client. The host...

Lucas and Luna dig into the quiet fee compression reshaping financial advice. With AUM fees down roughly 25 basis points over the past decade and new entrants like Vanguard charging just 30 basis points for advice, established RIAs and wirehouse advisors are under margin pressure. They examine data from Cerulli Associates showing that advisors under 40 are three times more likely to use a flat ret...

Lucas and Luna unpack the rapid consolidation reshaping financial advice: registered investment advisor aggregators like Focus Financial Partners and Mercer Advisors are buying up independent firms at record pace. In 2025, the top ten aggregators collectively absorbed over 400 advisory firms, managing more than one point two trillion dollars in combined client assets. Lucas explains the economics—...

In the first episode of The Financial Advisor Podcast, Lucas and Luna dissect the real difference between a fiduciary and a salesperson. They anchor on the Department of Labor's 2024 fiduciary rule update—which expanded the definition of investment advice for retirement accounts—and discuss how it changes what you should expect from your advisor. Luna shares a story about a friend whose advisor pu...