So now the investment advice arena will get more competitive.  See this posting in the New York Times by Ron Lieber for information about new lower asset management fees and how it may affect the bigger managers’ fee structure in the future:

http://www.nytimes.com/2014/08/23/your-money/financial-planners/an-emerging-price-war-in-the-world-of-investment-advice.html?_r=0

My feeling is that some of these small planners might get squeezed out by the smaller fees, as said in the article ($1 billion under management is needed to generate 25 to 30 million dollars – how much service can you give for that income level?), but it could be the start of a group of small, nimble planning firms that can grow over time by word of mouth.  Time obviously will tell.

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