Flat Fee Financial Advisor For Early Retirement

For a simple, flat fee, you will get all the advice, tools, and expertise you need from a veteran CFP® to create and manage your retirement plan.

If you experience my Early Retirement Planning System you will empowered to gain:

The CLARITY you've been seeking around when you can make work optional and how much you can spend
The CONFIDENCE to pull the trigger at the right time
The CONTROL over your plan and investments that you desire
FREE, ongoing access to powerful financial planning software and a repeatable action plan for keeping it updated

As Seen In:

What Exactly Does My Early Retirement Planning System Include?

Choose The Life Stage Below That Best Describes You

Young Professionals

Make It Grow

The planning experience in this stage is designed for people who are still working and are being forced to balance multiple financial goals such as retiring as soon as possible, buying a house, paying off student debt, and saving for college, all while growing your assets, family, and your career. I will help you create a plan that grows the wealth you will need to retire early, without having to sacrifice your happiness in the present. We focus on:

Calculating exactly how much to save in which types of accounts
Asset allocation and portolio recommendations
Tackling student loans and other debt
Employer benefits optimization
Planning for large financial goals such as home purchases, college expenses, weddings, etc
Managing your cash flow
Unbiased rollover advice
Unbiased 401(k) and 403(b) plan reviews
Organizing your finances in detail
Making sure you have proper insurance coverage
Managing life transitions

Close To Retirement

Make It Flow

This planning experience is designed for those who are in the last stage of their career and are ready to consider what life looks like after work. Retiring in your 40's, 50's, or early 60's is more challenging than retiring when you are already old enough to benefit from Social Security Income, Medicare, and pensions. We'll focus on creating lifetime income and minimizing taxes through:

Tax efficient Roth conversion strategies
Tax efficient withdrawal strategies
Healthcare expense planning
Detailed future cash flow analysis
Social Security optimization
Pension option analysis
Unbiased rollover analysis
Asset allocation and portfolio recommendations
Worst case scenario stess testing including projecting the impact of higher taxes, higher inflation, lower returns, decreased SS benefits, stock market crashes early in retirement, longer longevity, and higher healthcare expenses

Why Trust Kevin Burkle, CFP®?

All 5-Star Reviews For A Reason

All I do is create comprehensive plans for people targeting early retirement. I've done this so many times over the past few years that I believe I have perfected an early retirement planning system that empowers you to achieve the clarity, confidence, and control you need. I have been a CFP® for about 12 years, I've been in the financial advice industry for 15 years, and I started investing when I was 16. I have a lot of experience and expertise for someone my age. Because of my flat-fee, advice-only financial planning model, you won't ever have to wonder if the advice I'm giving you is truly in your best interest. Without that mental roadblock, we are empowered to really take action and improve your financial wellbeing.

I Am Required To Act As A Fiduciary 100% of the Time

As a CFP® who operates an independent Registered Investment Advisor Firm, I am required to act as a fiduciary 100% of the time. This is different from CFP®s or anyone who calls themselves a financial advisor but works at an insurance firm, brokerage firm, or hybrid firm.

Reduced Conflicts Of Interest When Compared To "Typical" Advisor Model

Unlike the vast majority of firms, I charge a fixed, flat dollar fee that is agreed upon up front. This means my compensation doesn't change based on the advice I give you. The same can not be said for advisors who charge portflio management fees or sell insurance products.

Reviews of HCP Wealth Planning

*These testimonials were provided as Google Reviews by actual clients of HCP Wealth Planning. The clients were not compensated, nor are there material conflicts of interest that would affect the given testimonials. To read all our Google Reviews, please click here.

We had an excellent experience working with Kevin as our financial planner. He guided us through a clear, multi-step process with focused meetings on specific topics, and was always available to answer our many questions along the way. The planning software he uses is top-notch—far better than what we’d used with a previous planner—and we appreciate having ongoing access to it. We also really value his flat fee model, which made the whole process feel transparent and aligned. He was highly knowledgeable and helped us land on a strategy that reflected both best practices and our own preferences. Highly recommended!

- Andrew K, Client

Kevin is the consummate professional. A great combination of technical expertise combined with the skill needed to translate to very practical terms. He takes the mystery out of financial planning and brings the entire process together in a consultative approach. His goal is to teach and equip clients with awareness, education, and the ability to both plan and execute on their retirement goals independently. Part of the appeal is that Kevin doesn't sell and he doesn't desire to create a situation where a client is dependent upon him...His approach is distinct in that he desires, and succeeds, in educating and preparing the client to understand, monitor, and take on their plan independently.

- Robert B, Client

Kevin is an excellent financial planner. My spouse & I had already set up retirement accounts, 529s, life insurance, etc based on our own research, but we needed someone to double check our assumptions, fill in any gaps, and tie it all together into a long-term plan. Kevin's flat fee model made sense for our situation. One aspect of his approach that I particularly appreciate is his ability to tailor his coaching & advice to each individual. On matters where we were well educated, Kevin discussed with us like a true partner. On topics that we were unfamiliar with, Kevin patiently coached us. Throughout our engagement, he was gracious, professional, flagged outliers in our finances without judging our life decisions. My spouse & I walked away with much more clarity & confidence in our financial future, which is exactly what we were seeking. We felt like we not only gained a key advisor who unlocked important life goals for us, but also a new friend. Hope to see you in person someday, Kevin!

- Michael T, Client

Kevin was great to work with. Very patient and helpful as we worked through the process of setting up our financial plan. Always timely in getting back to me and letting us work at our own pace. I appreciate his approach of charging a flat fee for his services and giving us the tools needed to implement our plan, but also being available down the road (at a reasonable hourly charge) if something changes and we need additional help

- john S, Client

I would give Kevin 10 stars if I could! He was so easy to work with and extremely thorough in all his financial advice. He made sure my husband and I understood everything and was always open to questions throughout the process. We were blessed to have found him!

- Patti S, Client

I needed a financial advisor to check my F.I.R.E. calculations, but wanted a fee-only advisor that was a true fiduciary. Kevin was perfect for me. He helped me think through scenarios that I had not factored in, while also stress testing my finances and running various scenarios for my property portfolio (selling vs. keeping). More importantly, I have access to online software where I can change my situation easily to model different lifestyle choices as my life changes, and see those impacts immediately. It was exactly what I needed. Ultimately, his fee was affordable and I now have the peace of mind that I can move forward with my desired plan. Highly recommend.

- Ross P, Client

We were really comfortable with Kevin. I knew my retirement numbers were in pretty good shape but wanted some validation of my plans, and some guidance in deciding between some alternative options going forward. I also knew I wanted a fee only financial planner who was not trying to take over management of our funds. Kevin fit the bill with his low cost one fee program.

Using a highly detailed financial software tool, Kevin was great in helping us to generate and test various goals through the tool. When I wanted to test options, such as comparing whether to pay off a mortgage early or buy a vacation home out of state, Kevin patiently created what I called the "tiles" in the software for each goal. Once the tiles were created, it was easy to test the probability of success in never running out of money while factoring these goals together or in the alternative.

We live in Missouri and Kevin lives in Florida. This was not an issue as all meetings took place over Zoom video conference calls. Prior to each meeting, Kevin sent us a calendar invite where we chose the meeting times (usually evening) best for us. At the conclusion our meetings and setting up the financial tool, we concluded that we could retire immediately instead of two years down the road.

I have already shared Kevin's contact information and process with three of my co-workers and my daughter, and I will continue to spread the word as Kevin offers such a great value and service to his customers. It is great having the extra validation of our financial future. Thank you so much Kevin.

- Chris W, Client

Kevin is great to work with and I would highly recommend him to anyone looking for a fee-only wealth planner. He is responsive, knowledgeable, and flexible and manages to make what could be a very complex process much simpler and understandable.

- aaron C, Client

Kevin was immensely helpful in setting up our family with the knowledge and tools to handle our financial needs. He covers everything from budgeting to investments and retirement planning. We were able to ask numerous questions, and he broke down each step for us as much as we needed, which was invaluable for people unfamiliar with the investment world.

- Lauren E, Client

Incredibly valuable experience. Helped us get our financial house in order and make plans for the future. Incredibly easy to work with, responsive, clear, and patient. Highly recommend!! 5/5!!

- Johanna J, Client

We can't say enough about how impressed we were with Kevin Burkle and HCP Wealth Planning. We were reluctant at first to take a deep dive into our finances but the comprehensive approach to planning for the future has given us great peace of mind. We were specifically looking for a fee-only advisor, not ongoing investment management. Kevin was generous with his time and helped through every step of the process. We now have a clear and detailed analysis of our current situation and what our financial future looks like. Kevin encouraged us to imagine all future wants and showed how they can be acheived, and we have access to a digital planner going forward so we can tweak it to fit future changes. It was honestly one of the best financial planning experiences we've had in 40+ years of investing, and well worth the very reasonable fee.

- Kerry T, Client

Kevin was great to work with, he is very knowledgeable and helped me answer all the questions I have had for years. He helped me design a plan which is helpful in retirement planning. I would strongly recommend Kevin as a financial advisor

- Aamer K, Client

If you are looking for true financial planning that will show you the path to your retirement goals, then look no further. Kevin's financial planning services are second none and he is a consummate professional. Kevin himself sums it up perfectly on his website here: https://hcpwealth.com/why-flat-fee-financial-advisors. When you are finished with the engagement you will have concrete steps to take in order to achieve the plan. HCP Wealth Planning deserves 6 stars.

- Brent B, Client

Can’t say enough about how much we appreciate Kevin’s input, perspective, and guidance. He is incredibly knowledgeable in the financial planning space and works hard to provide a comprehensive assessment of the inputs needed to make informed decisions. When we had a major decision to make on a short timeline, Kevin was incredibly flexible in adjusting his schedule to ensure we had the right inputs to help guide us. We highly recommend HCP Wealth Planning to those looking to secure a comfortable retirement or make sound financial decisions!

- Trent S, Client

I started working with HCP Wealth Planning as a project based customer, meaning we paid a one time flat fee for a comprehensive analysis and plan of all our financial goals. I found Kevin through a referral made to my friend and I'm so grateful that he shared this information with me. I didn't know Project based planners exist, and this is a phenomenal service for a flat fee. Unlike percent based or annual fee based planners, Kevin is incentivized to provide the best service and prop you up so that you're self sufficient.

Working with Kevin is easy, not only is he extremely responsive by email, he has made himself available to meet on weekends and after work hours. He uses an electronic platform which allows you to easily visualize your financial plan, and see how your projections improve or change based on your selected changes to salary, expenses, market performance, etc. Kevin is also incredibly thorough and its worth all the information he requires you to dig up. He is also able to create multiple scenarios based on what your approach might be.

Whether you are financially savvy or a novice, having an expert set of eyes look at your current finances has a lot of potential for revealing possibilities you might be unaware of or not considered.

- Nida K, Client

I was on the hunt for a financial advisor to find out if my husband and I can afford retirement. I sat down with various types of financial advisors, some even connected with the bald guy, and all of them are only interested in two things: the size of our portfolio (one of them requires a $1M portfolio), and all of them work using the AUM model, who gets paid based on the size of your portfolio, whether it earns or not.

We went with Kevin of HCP Wealth Planning and we’re so glad we did. Here’s what we got working with him:

1. He is a flat-fee financial advisor, meaning it doesn’t matter what the size of your portfolio is.
2. Great communication via email and virtual meetings. No question was left unanswered.
3. Clarity of our financial picture. We found our biggest money drain.
4. He will make you work by making you visualize and plan what you want to do from here on out, up to the time you retire, and during retirement.
5. His financial software and the cash flow analysis allowed us to see our net worth, and gave us the picture of our spending plan now and during retirement.
6. A withdrawal plan that will put more money in your pocket.
7. Various appointment schedules that will work with your work schedule.
8. Financial literacy. There are no stupid questions when it comes to your hard-earned money, and he answered them all patiently.
9. Peace of mind knowing that we can retire earlier than 65, even pay for health care coverage outside of our employment before Medicare kicks in, even long-term care services.
10. He is not a pushy salesman who makes you buy other financial stuff. He will not make you put your money into an IRA that other financial planners want you to do so they dip into your money (the AUM model).

I can go on and on. If you are looking for a financial planner who has your best interest at heart, you will not regret getting his services.

- Shelly N, Client

I would highly recommend Kevin and have referred others to him for financial planning and advice. He is very thorough and makes recommendations based on his expertise but is also willing to be flexible based on my personal situation. Because of Kevin’s guidance, I feel confident in my financial future and have the tools needed to monitor my progress.

- Lynn H, Client

Kevin was an absolute pleasure to work with he is a knowledgeable financial advisor and cares about his clients. As a registered nurse I’m fortunate to have good income and knew I needed help to make my money work for me other than just saving it. I did a ton of research on financial advisors and found Kevin through an article on a nursing website, this was important to me as he had experience working with other medical professionals. Kevin helped me gain an invaluable amount of knowledge on my personal finances and helped me set up many accounts such as IRAs, HYSA, and brokerage accounts. I can’t say enough good things about Kevin. He is a down to earth guy which makes this process way easier. Communication is key and Kevin excels in this and answered every single question I had. I would 100 percent recommend working with Kevin.

- Erick F, Client

We where delighted to have Kevin's assistance and expertise in helping us work through finances with our international readjustment, college and retirement plans. Kevin took time to get to know us as a family, asking great questions, and was very warm and easy to be with. He responded quickly to any needs we had and was extremely helpful in guiding us with a great plan for the future. We would highly recommend Kevin's work!

- Ali G, Client

I would highly recommend and refer anybody to Kevin. He is very thorough. He educates and most importantly takes time to listen and understand your priorities. Retirement is a big, complex decision. Kevin helps you understand and gives you a roadmap. There is not a single question he could not answer. I really like the flat rate pricing and the ability to access my data even after our evaluation period ended. These are features you don’t get from others.

- Josiah P, Client

My fiancé and I were in desperate need of financial advice. Like most medical professionals and recent graduates, we were going through a unique transitional period with our finances. We reached out to several financial planners with hopes of finding someone to guide us towards the best possible financial outcome. Thankfully, we found Kevin B at HCP Wealth Planning. I can honestly say that Kevin was everything we were looking for in a financial planner. He had clear communication skills and the ability to deliver information in a manner that was easily understood. He helped us create a comprehensive plan for tackling our student loan debt, saving for our wedding/ honeymoon, new home, retirement, investments, etc. We were able to create a spending plan in the HCP financial portal that’s both realistic for our current needs as well as planning and saving for our future. We are pleased with our decision to work with Kevin and would highly recommend him.

- Renee M

I worked with Kevin on a flat-fee basis to put together a comprehensive financial plan. He was a pleasure to work with and he taught me way more than I was expecting. It's clear he cares about his clients and is very knowledgeable. He ensured that all of my questions were answered and that I understood all of his advice clearly before ending any of our meetings. He also put in extra effort to model many "what-if" scenarios so that I could see how that impacted my financial goals. I highly recommend Kevin to anyone looking for a financial advisor. Unlike some other advisors that I considered, he does not pressure you to purchase any additional services or have him manage your money.

-Jay S - Client

Kevin is not just one of the best financial advisors I've ever worked with, he's one of the best professionals I've ever worked with. He's extremely knowledgeable, kind, flexible and honestly a joy to work with. He went above and beyond in terms of collecting data to help us make the right decisions as we prepare to buy our next house and I find myself looking for opportunities to recommend him to my friends. If you're looking for a financial advisor, definitely get in touch with Kevin.

-Justin W

I worked with HCP Wealth Planning as a "by the gig" customer, meaning we paid a one time flat fee for a comprehensive analysis of all our financial goals, and the design of a financial plan to achieve them. Kevin is very responsive by email, and is available to meet on weekends and after work hours. In addition, Kevin's approach to financial planning revolved around encouraging us to identify all our financial goals, no matter how crazy they seemed, and helped us realize those goals were not as crazy after all if you can stick to a simple saving plan and keep your cash flows under control. Kevin uses an intuitive electronic platform which allows you to easily visualize your financial plan, and see how your "chance of success" improve or decrease based on changes to salary, expenses, market performance, etc. I wholeheartedly recommend working with Kevin, even if you're already financially savvy; having an expert set of eyes look at your current finances will reveal a lot of possibilities you may have not considered.

-Eli E

Kevin with HCP Wealth Planning was an absolute pleasure to work with. We came in with a fairly complex situation with a lot of moving pieces to put together a financial plan for retirement. Kevin did a terrific job of organizing all of our information and building out all of the different scenarios we wanted to model. The software he uses is top-notch, and we came away with a solid retirement plan with all of our variables rolled in.

-Don M

Worked with Kevin for a “by the gig” review of our finances. We had several goals and points of clarity which were all answered. The electronic platform is easy to use. Kevin was responsive and had flexible hours to meet our schedule.

-Amanda B

Organizing Your Financial Life Is Just The Beginning

Map Your Wealth With An Advice-Only Financial Advisor

The Early Retirement Planning System Process And Pricing

Over the years I have perfected a planning experience that takes the complicated process of early retirement planning and makes it feel simple. My planning experience generally consists of three to four remote video meetings over the course of one to two months. Upon completion of our engagement you will receive a summary investment and withdrawal strategy document, and free, ongoing access to my planning software.

Step 1: Schedule An Intro Meeting (this part is free)

I'll email you an Initial Planning Needs Questionnaire for you to complete. This will help us both gain an understanding of what your planning needs are. Don't worry, I won't force you to provide me with any account balances or financial details yet. We'll then conduct a complimentary video meeting so we can discuss your questionnaire and goals in more detail.

I'll also share my screen so I can provide a live tour of the "Map Your Wealth" experience. This won't be a canned "strategy session" with a high pressure sales pitch at the end. This first connection simply arms us both with more information so we can begin to determine if we might be a good fit for each other.

Step 2: Organize Your Financial Life And Create A Detailed Roadmap For Your Financial Future

Using my custom, easy to use digital template, we will organizer your entire financial life in a state of the art personal financial portal that will give you 24/7 access to keep track of your financial plan and progress in real time.

We will then go through the process of creating a comprehensive retirement roadmap that will address all the financial concerns you already have, and even the ones you didn't know you should have.

Step 3: Enjoy The Sense of Relief and Confidence That Comes From Knowing You Are On Track To Live Your Best Possible Life In Retirement

*Bonus: Free Ongoing Access To The Tools You Need To Stay On Track

At this point, we've worked really hard to organize your financial life and create a roadmap for your future, so I don't want you to lose access to all of it. This last step is partly what separates me from a lot of other hourly or project plan advisors. Upon completion of our engagement:

You will be granted free, ongoing access to your personalized financial portal. This means you can continue to leverage the budgeting tool, track your account balances, investements, net worth, and update your income, savings, and goals so you can see how those changes impact your projected lifestyle moving forward.
Through the portal and app you will receive reminders throughout the year to review various aspects of your financial life. These reminders include educational content so you can learn to do this without having to pay for another financial advisor engagement.
You will also have access to your secure digital vault where all your important documents can be safely stored for your loved ones to access in case something happens to you.

All-Inclusive Pricing

Couples: $2850 Billed As $475/Month for Six Months

Individuals: $2400 Billed as $400/Month For Six Months

That's it. There are no other hidden fees or expenses.

*I typically increase my pricing each January to keep up with the annual increases I have to pay for my business expenses including my financial planning software. Anyone who has not signed my digital agreement by then will be charged the new rate.

How do you pay it?

Your fee gets billed as six, equal monthly payments. The first payment isn't due until one month after signing the client agreement. You can choose to pay via secure, electronic funds transfers out of your bank account, or via credit card. There is no extra charge to use a credit card so most people choose this option to collect rewards points.

Repeat Clients

My goal is to do such a thorough job of:

creating and implementing an action plan
showing you how to update your financial portal yourself
managing your investments on your own

that you shouldn't feel the need to pay me or any other advisor again unless life throws you a curve ball and your situation has changed drastically, or you are planning on significant changes.

When this happens, you can engage me for another plan update. Because I already have your entire financial life in your portal, and we are updating it rather than starting from scratch, this process will take less of our time, so it will cost less. I will quote you a fee based on what you tell me you want to accomplish and how many hours of my time I think it will take.

Interested In A Live Step By Step Tour Of My Early Retirement Planning System? There Are Only Two Potential Outcomes:

You determine we are a great fit and you decide to partner with me (our favorite of course).
We decide we aren't a great fit, so I refer you to other flat fee-only CFPs who may be better suited for your needs (I don't receive any compensation for referrals but I still want to find you the help you need).
By the end of this meeting you will be more educated on what planning needs you may have and what a truly comprehensive financial plan looks like. So you know what to look for when interviewing other advisors if you decide not to partner with me.

Schedule Your Complimentary Meeting

Flat Fee Financial Advisor For People Who Want To Retire Early

HCP Wealth Planning Is A Financial Advisor In Jacksonville, FL and Serving Clients Nationwide Through Virtual Meetings

I believe the fees you pay should be based on the advice you actually receive, not how much you have to invest.

Kevin Burkle, CFP®

Founder | Financial Planner

P: 904-419-3784
kevinburkle@hcpwealth.com

CFP® and Proud Member Of:

Who Do I Help?

I help people who want to retire early or at least make work optional before 65.

People who choose to partner with me want to be confident that they can retire early without ever having to wonder if they will have to go back to work or be forced to downgrade their lifestyle later on.

They prefer to work with a planner on a project plan basis for a simple flat fee. They don't want to be forced to pay someone else expensive ongoing portfolio management fees, or be forced to hear an advisor pitch them products, when all they really want is personalized advice about their financial lives.

Why Do I Do This?

I'm a personal finance geek and I love the educational component of the financial planning process. I wholeheartedly believe that financial planning, when done the right way, can truly help people to connect their financial resources with whats really important to them. And I think it's pretty cool to know that I can help people live their best lives.

Why Did I Start My Own Firm

I did it to become super wealthy. Just kidding. That will never happen with the price I charge and the limited number of clients I choose to work with at one time. But that's totally fine by me. Owning my own firm has enabled me to design and perfect a flat fee financial planning experience that I'm proud of. Because I don't have to worry about selling my clients anything, I only have to focus on the best advice possible. I know a lot of people who work for large brokerage or insurance firms who can't say the same thing.

My Background

I grew up in North Carolina, but I currently live in Jacksonville, FL with my wife Melissa, our five-year-old daughter Cameron, our three-year-old son Julian, and our mini schnauzer, Louie. My passion for finance began in high school when I started following the stock market just before the dot-com crash. I quickly lost my lawn mowing and lifeguarding money and learned the importance of diversification.

However, I was hooked and decided to obtain a degree in finance from North Carolina State University. Upon graduation, I spent the next twelve years working for one of the major brokerage firms where a lot of my time was spent providing financial advice to employees of some of the largest corporations in the country.

I live close to the beach and I love to hang out there with my family and friends. I'm a die-hard Carolina Panthers fan and can't wait to brainwash my kids into becoming one also. As I've grown older, I've started to enjoy cooking more and more. I recently got one of those high temp outdoor pizza ovens and I'm on a mission to perfect a homemade NY-style pizza (my wife is from Jersey and always complains about the crappy pizza here in Jacksonville). If you ever want to talk football or food, I'm your guy.

Ready To Chat?

Schedule A Phone Call Or Video Chat

Flat Fee Financial Advisors: The Smartest Way To Pay For Financial Planning

Flat Fee Financial Advisors: Pay A Simple Flat Fee Based On The Help You Need, Not How Much You Have To Invest

At HCP Wealth Planning, we believe the fees you pay your advisor should only be based on the expertise and services you receive, not the size of your portfolio. We don't think it's fair that someone should pay an advisor higher fees, just because they have more money. Why is this? The little secret that many financial advisors don't want you to know is that it generally doesn't cost them any more time or require any more expertise to manage a $1,000,000 portfolio than it does a $100,000 portfolio. Just because someone has a larger portfolio, that doesn't automatically mean their financial planning needs are more complex. Unfortunately, this type of pricing model, which is known as the Assets Under Management (AUM) model, is still the most popular fee method in the industry.

Advice-Only Financial Planners: Making Holistic Financial Advice Accessible To Everyone Including DIY Investors

What if you don't have a ton of assets saved up yet? What if all of your investments are tied up in your employer-sponsored retirement accounts? What if you simply prefer to manage your investments on your own, or use robo-advisors, or target date funds? If this describes you, the reality is that you may find it difficult to find an actual CFP® who is still willing to help you (unless they plan to try to sell you a product). None of that matters to us! Because we charge a simple, flat dollar fee, our compensation isn't impacted by how much you have to invest, so we would love the opportunity to help you "Map Your Wealth" and make the best possible financial decisions.

Reduce Your Conflicts of Interest

One of the biggest issues with the traditional AUM model is that it creates many conflicts of interest when the advisor is delivering advice.

The Rollover Conversation: There are many scenarios where it could be in your best interest not to rollover your 401(k) or 403(b) after you stop working for your employer. But if the only way an AUM advisor is going to get paid is by managing those investments in an IRA, they have a financial incentive to convince you to rollover out of your 401k and into an IRA. A flat fee advisor can give you an unbiased recommendation on whether or not to rollover because they get paid the same amount no matter how much you invest with them.
Paying off debt: What happens if it's in your best interest to pay down debt such as student loans or paying down a mortgage? That means less money to invest and less money in your advisor's pocket. They have a financial incentive to recommend you do not pay off that debt.
Real Estate Investing: What if it makes more sense for you to diversify some of your savings and create passive income by investing in real estate? Let's say for example you want to spend $200,000 on a rental property. That's $200,000 that could otherwise be in your investment portfolio which means your advisor could be making $2000 per year in fees from that money. Can you trust that advisor to be unbiased when helping you decide if that rental property is a good investment? The same applies if you are considering paying a lump sum to buy into a business.
Inheritance: Over the course of the next couple of decades, the greatest generational wealth transfer will take place. Let's say you inherit an IRA worth $200,000 and it makes sense for your advisor to invest that for you. Should your advisor all of a sudden be paid $2000 more a year because you inherited this money, even though it will barely take them any more time to invest it? What if you inherit $500,000 or even $1,000,000? Should they all of a sudden be paid $5,000 or $10,000 more per year?
Social Security: In many scenarios, it makes sense to delay receiving Social Security benefits until you are eligible for the max benefit at age 70. This can be true even if delaying SS means you have to draw down more of your investments in the meantime. In this instance, your financial advisor has a financial incentive to recommend you take SS as early as possible, to reduce the drawdown of your investments and therefore prevent their fees from decreasing.
Pension Options: If you are deciding between rolling over a lump sum pension or annuitizing it as monthly payments, there can be a huge difference in financial advisor compensation between the two options if they are an AUM advisor. If for example your lump sum option is for $1M, and they charge a 1% AUM fee, they could earn $10k/year more in fees if you decide to rollover that lump sum into an IRA for them to manage. But in many situations, it makes more sense to initiate your pension as a monthly distribution. With this option in this example, the advisor would lose out on $10k/year in fees. This is exactly why you should only have your pension strategy evaluated by a flat-fee advisor.

The Typical AUM Advisor Excuse:

They will tell you that with the AUM model, their fees actually decrease if your portfolio value decreases. So their interests are aligned with yours. Sure, over a short period of time, the markets may drop and your portfolio may decrease in value, so your advisor's fees temporarily decrease. But if you have a long-term relationship with your advisor, odds are that over time, your portfolio value will increase and therefore your fees will increase. This is true even accounting for short-term market corrections. In fact, after every single stock market correction in history, the market has gone on to reach all-time highs.

No Surprises

The majority of clients who work with an AUM advisor could not tell you exactly how much in dollar terms they paid their advisor last quarter. This is because those fees are buried in account statements that you probably won't look at and it's unlikely that advisor is going to be proactive in explicitly telling you how much you paid. This is less likely to happen when you see the transaction fees on your bank account statements every month.