"If I see AUM, that's an immediate no for me. No other services charge that way."
I hear this argument every once in a while when people talk about financial advisor fees.
But there are plenty of other industries that charge based on the value of the assets or transactions they manage.
Property managers charge a percentage of rental income.
Real estate agents charge a percentage of the sale price.
M&A advisors charge a percentage of the transaction value.
Investment managers charge a percentage of the assets they manage.
It's not some foreign concept.