Adam Grossman: Asset Allocation Is an Investor’s Best Defense

Why It Matters

Fee structure and allocation choices materially affect net returns and investor behavior; adopting flat fees and passive allocations can reduce cost and tax drag and improve retirement outcomes. Confidence: 90

Summary

Adam Grossman, founder of flat-fee RIA Mayport and longtime contributor to Humble Dollar, argues that prudent asset allocation — not stock picking — is investors’ best defense. He built his firm around a fixed, flat-fee model because managing portfolios typically requires similar effort regardless of account size, and percentage-based fees can unfairly inflate costs after windfalls. Grossman favors simple, index-based strategies over active equity research, and participates in Humble Dollar’s retirement-focused, community-curated content. He credits the late Jonathan Clements with shaping the site’s voice and an editorial model that now runs with a small board and volunteer contributors.

Original Description

A flat-fee financial advisor and columnist discusses why less complicated portfolios are usually best, how he addresses inflation risk in client portfolios, and his biggest worry for new retirees.

Our guest on the podcast today is Adam Grossman. Adam’s the founder of Mayport, a fixed-fee wealth management firm. He’s also a regular contributor to Humble Dollar, the website founded by late financial writer Jonathan Clements. Before founding Mayport, Adam worked as an investment advisor or analyst at several firms, including Middleton & Company, Ballentine Partners, and MFS Investment Management. He also founded About Face Software, a social networking software firm. Adam received his undergraduate degree from Williams College and his MBA from MIT Sloan School of Management, and he’s also a CFA charterholder.

Episode Highlights

00:01:16 Writing for Humble Dollar and Jonathan Clements

00:05:15 How Flat‑Fee Advice Beats AUM Pricing Helping Investors Stay 00:10:29 Calm in Market Stress

00:17:30 Simple Stock/Bond Portfolios Still Work

00:22:58 How to Protect Your Portfolio Before Retirement

00:27:20 Social Security Timing: Math Versus Emotions

00:34:19 How AI Is Changing Financial Advice