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Low-cost advisory services from robo-advisors and firms such as Vanguard are likely to cause financial planners, who may charge 1% of assets under management, to revamp their fee structures. That's according to Wei Ke, who is a consultant at Simon-Kucher & Partners.

Advisors may end of using a fee-for service model or they may charge an hourly rate.

Read the full article from Forbes.

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