Our Journey to Financial Independence

For over a decade, we’ve been on the path to financial independence (FI), managing our own investments, optimizing our finances, and making decisions that bring us closer to early retirement. I’ve read books, followed FI blogs, and built a solid foundation based on these key pillars:

• Maximizing employer benefits
• Paying ourselves first (saving & investing before spending)
• Building a real estate portfolio

A do-it-yourself approach has worked well for us. But I’d be lying if I said I never had moments of doubt—wondering whether we were missing optimization strategies, making the best long-term decisions, or truly on track for early retirement.

Why We’ve Always Avoided Financial Advisors

Partnering with a financial advisor was always a hard no for me. Why? Because I refuse to pay someone a percentage of my assets (AUM fees). The typical financial advisor fee structure is broken and filled with conflicts of interest.

Many people justify paying for a financial advisor with statements like:

I have no interest in the stock market.

I don’t want to manage our investments.

I’d rather let a professional handle it.

I get it—not everyone is passionate about personal finance. But let’s be clear: no one will ever care about your money as much as you do. Worse, many people don’t realize how much they’re giving up in fees. A 1% AUM fee might sound small, but over decades, it can cost you hundreds of thousands (if not millions) of dollars in lost growth.

What Changed? Discovering Advice-Only Financial Advisors

If you’re going to tell me that the only way to get financial guidance is by paying a percentage of assets, I’d say: consider an advice-only advisor instead.

What Is an Advice-Only Financial Advisor?

An advice-only financial advisor is one who charges a flat rate or hourly fee rather than a percentage of your assets. This eliminates the conflict of interest that comes with AUM-based fees. They get paid for their advice—not for selling you financial products or managing your money.

The Typical Financial Advisor Cost Structures

Most financial advisors follow one of these pricing models:

1. AUM-based fees – Typically 0.5% to 1.5% of assets annually. The more you invest, the more you pay—even if the level of service remains the same. (Example: A $1M portfolio at 1% = $10,000 per year in fees!)
2. Commission-based – Advisors earn commissions from selling financial products like insurance or mutual funds (a massive conflict of interest).
3. Advice-only (Flat or Hourly) – A transparent, predictable fee structure that is not tied to your portfolio size. (This is what we ultimately chose.)

How We Found Our Advisor (and Why We Chose Abundo Wealth)

The First Attempt (2021)

I first explored fee-only advisors in 2021. I spoke with a knowledgeable advisor who shared my enthusiasm for FI and even had experience working with people in my profession. But his fee structure was still based on portfolio size—the more assets, the lower the flat fee. That didn’t sit well with me. The cost was too high for the value, and he himself admitted it wouldn’t be worth it for me.

The Turning Point: econoME 2024

At the econoME conference, a personal finance event we’ve attended since 2021, the topic of advice-only advisors came up again. The community generally dislikes financial advisors, but Sarah Catherine did an excellent job explaining how a properly structured advisor relationship can add real value.

During a breakout session, Chris Mamula from Can I Retire Yet and author of Choose FI: Your Blueprint to Financial Independence, gave a great presentation about retirement calculators. To my surprise, he mentioned he had joined Abundo Wealth as an advice-only advisor. I was intrigued.

I reached out to Chris, but he wasn’t taking on new clients. Instead, he connected me with Jeremy Zuke, another advisor at Abundo. We had a complimentary intro call, and the rest is history.

What We Get for a Flat Monthly Fee

Abundo Wealth’s pricing is simple and transparent:

• A one-time initiation fee
• A flat monthly fee—whether you have $100 or $10 million, you pay the same

Unlike traditional advisors who want to “manage” your investments for an AUM fee, Abundo focuses on holistic financial planning. Jeremy wrote an excellent post on the Abundo blog about their services; however, I wanted to share our experience and what we’ve gained:

(1) Portfolio Optimization

• Reviewed our investment allocation across tax-deferred and brokerage accounts
• Consolidated accounts (we had too many)
• Stuck with low-cost index funds (Total US Stock, International, and Small Cap Value)
• No unnecessary portfolio tinkering—set it and forget it

(2) Insurance Review

• Evaluated our policies to ensure we’re covered (but not overpaying)

(3) Real Estate Strategy

• Reviewed cash flow and plans for paying off high-interest loans where and if appropriate

(4) Employer Benefits Optimization

• Helped us maximize benefits and eliminate unnecessary costs

(5) Major Purchase Decisions

• Advised us when we bought a certified pre-owned car instead of overspending

(6) Alternative Investing

• Discussions on potential alternative investments to complement our portfolio

(7) Financial Therapy & Goal-Setting

• Challenged our perspectives, helped us refine life and financial goals

(8) Travel Hacking

• Strategies to maximize credit card rewards for travel

(9) Tax Optimization

• While they don’t file taxes, they connected us with a tax firm specializing in FI

The Value of an Advice-Only Advisor

We have quarterly meetings with Jeremy, but we can reach out anytime for no extra cost. The peace of mind, clarity, and accountability we’ve gained are well worth the flat monthly fee.

For those who are:
✅ DIYers but want a second opinion
✅ High-net-worth individuals interested in avoiding AUM fees
✅ Not passionate about finances but want to be smart about money
✅ Just getting started and need a roadmap

…I highly recommend considering an advice-only financial advisor—and if their approach aligns with you, Abundo Wealth.

Thanks for reading! Let me know if you have any questions about advice-only advisors or Abundo.