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Kiplinger
Kiplinger
Business
Jacob Schroeder

Is Your Financial Adviser for Retirement Worth the 1% Fee?

A financial adviser, insurance agent or business colleagues handshaking across the table during a meeting in modern office. .

When Citicorp and Travelers Group merged in 1998, the new firm hired designer Paula Scher to create its logo. She sketched it — the same logo used today — during the first meeting, on a napkin, in a few minutes. The bill was $1.5 million.

Asked how a doodle could be worth a fortune, Scher gave an answer that became famous in design circles: it took a few seconds to draw, but more than thirty years to learn how to draw it that fast. The client wasn’t paying for the minutes. It was paying for everything that made those minutes possible.

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