An Advisor’s Role—Stewarding Clients To Make Informed Financial Decisions
Advisors are charged with empowering clients to make more informed financial decisions. Many clients look at issues, like college planning, in a simplistic way and never fully appreciate the future implications of their choices. It is an advisor’s job to lay out the possible impact of these financial decisions and offer alternative strategies for consideration. If a client sees the real cost or potential future value of an expensive private university and still elects to send their child there, as many will, at least it will be an informed choice. Perhaps understanding the real cost of selecting a college will encourage clients to use more of their income to contribute to college funding or even place some responsibility on their children to contribute to their education. Whatever the outcome, by illuminating the actual cost of paying for various college options and taking the emotion out of the decision-making process, advisors will be able to fulfill their role as stewards to clients as they move toward making financial decisions that align with long-term investment goals.
Gary Droz is the managing director of MainLine Private Wealth LLC, a Wynnewood, Pa.-based investment advisory firm that provides unbiased advice and sophisticated investment solutions to high-net-worth and ultra-high-net-worth investors across the United States. 
Helping Clients Understand The 'Real Cost' Of College Planning
October 4, 2017
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Good article showing the difference in gross costs of college and the potential detrimental impact on retirement. However, few families pay sticker price for college, and many of these private colleges are less expensive than their public counterparts on a net basis (after aid). At College Funding Solutions, we use a proactive approach to help families target quality colleges where their students can maximize their student aid. A student that does not qualify for needs-based aid should not attend a "reach" school, as they will be in the bottom 25% academically, they will pay sticker price (Gary's example) and will essentially subsidize those students that are receiving merit based aid (in the top 25%). These students should target schools where they will be in the top 25% academically, so they will get the merit based aid, a subsidy provided by students in the bottom 25%.