$200K a Year in AUM Fees, Buying Your Nanny a Car, and Education with Lindsay Tanne Howe

A listener with $18 million at a wirehouse advisor is paying just over $200,000 a year in AUM fees and was told by his advisor that there's no way he could handle a portfolio that size on his own. Stephan separates the management of money from the advice on money, walks through why the AUM model scales well for advisors but poorly for clients, and gives a real answer on where the threshold for self-management actually sits. Spoiler: it's much higher than most advisors will admit.

Then, a family with a longtime nanny on payroll wants to provide her a safe new vehicle now that the daily drive to private school has changed the job. Stephan walks through three structures, including the option most families overlook, and explains why insurance is the biggest risk most people miss when a personal vehicle starts getting used for what looks like commercial work.

To close, Lindsay Tanne Howe, founder and CEO of LogicPrep, returns to the show for a conversation on how education is increasingly driving where families choose to live. Stephan and Lindsay discuss the big-fish small-pond question that comes up in places like Greenwich, the rise of new family hubs from Lisbon to South Florida, when families should start planning for college (earlier than most assume), and how AI is reshaping both the admissions process and what colleges are teaching once students arrive.

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Disclaimer: The information provided in this podcast is for general informational and educational purposes only, and is not intended to constitute financial, investment, or other professional advice. The opinions expressed are those of the hosts and guests and do not necessarily reflect the views of any affiliated organizations. Investing in financial markets involves risk, including the potential loss of principal. Past performance is not indicative of future results. Before making any investment decisions, you should consult with a qualified financial advisor who can assess your individual financial situation, objectives, and risk tolerance. Thanks for listening!