We are a fee-only financial planning and investment management firm. Being fee-only means . . .
- The only compensation we receive comes directly from you, the Client;
- All of our compensation is disclosed to you in writing;
- We never receive any commissions, referral fees, kickbacks, or any other third-party compensation;
- We never engage in sales incentives or sales contests;
- We are compensated for providing advice and services, not for selling products;
- We are incentivized to recommend what’s in your best interest; and
- We are free to use (and prefer to use) low-cost investments, insurance, etc.
We are currently accepting new Client relationships via ongoing engagements only. Ongoing engagements provide regular access to financial planning and advice, as well as portfolio management through our investment advisory (IA) services.
Financial Planning Fees
Fees for financial planning services are generally included with the IA services fee for ongoing engagement Clients that meet the current minimum quarterly fee. Otherwise, fees for financial planning services for ongoing engagement Clients are billed at a 20% discount to our current hourly rates. Current billing rates are $250 per hour for Lead Planners and $90 per hour for Junior Planners.
Investment Advisory (IA) Services Fees
Our IA services fee starts at 0.85% per year for the first $500,000 of assets, and declines to 0.30% per year based on the combined average daily balance managed for a Client. We have a minimum quarterly fee of $1,000 for IA services. Although we don’t have a minimum account size, our IA services are best for Clients with at least $400,000 in investment assets due to our minimum quarterly fee.
Financial planning services not covered by the IA services fee are billed in three installments, but Clients may pay these fees in fewer installments if desired. Payment is accepted by check unless a Client requests that we deduct payment from a non-qualified investment account.
Fees for IA services are billed quarterly in arrears. Payment for the IA services fee is deducted directly from the account managed. We do not require or accept IA services fees in advance.
Fees are subject to change upon proper disclosure. Clients that hired us before August 1, 2016 are grandfathered in to their existing fee schedules. It’s our practice to avoid increasing fees for current Clients whenever possible, so in general we keep Clients on their original fee schedules unless a new fee schedule would be more beneficial for them (e.g., result in a lower fee, increase their service level, etc.). We reserve the right to lower our minimum quarterly IA services fee under special circumstances (e.g., Clients that are referred to us, Clients that have under $400,000 in investable assets but are saving aggressively and are likely to accumulate that amount soon, etc.).