Based on the financial plan that we build together, we may decide on an investment strategy that we manage for you. We hire and recommend various money managers as well as recommend individual investments and charge ongoing costs based on your account balance. These costs are deducted directly from the accounts that we manage (you don’t pay these to us directly) and we are always monitoring the market to make sure we are using the most cost-effective solutions.
0-500K = 1.00% - 1.5%
500K-1M = 0.75% - 1.25%
1M+ = 0.50% - 1.00%
Based on the financial plan that we build together, we may decide that life insurance, annuity or other product would help reach a goal (ie, life insurance may help fund a special needs trust or fulfill a legacy wish. An annuity may help provide income, protect assets from Medicaid, provide creditor protection or be an alternative to other investment options).
Commissions vary depending on the product and are paid directly to us from the companies (you do not write a check for them nor will you see them deducted or added on anywhere, they are built into the price of the product). For life insurance, commissions are paid in the first year and range from 50% to 90% of the premium. For example, if your plan recommends that you buy more life insurance and it costs $1000 per year, we would earn around $500 to $900 in the first year and then 2%-3% on average each year after.
For annuities, our typical commissions range from 1.0% to 3% of the deposit. For example, if your plan recommends that you deposit $50,000 into an annuity, we will earn $500 to $1500.
Again, these are paid to us directly from the insurance company and do not reduce your investment.
In some cases, we may accept a client engagement on an hourly basis. This may be for a “second opinion”, to review an existing plan, or to address a specific issue that does not require a financial plan. We’ve helped track down old life insurance policies, review retirement plans (401ks, 403bs, etc), consolidate old stock certificates, value and title/retitle/claim old savings bonds, analyze a real estate purchase, and a variety of other services under this arrangement. We accept these engagements on a case by case basis depending on our schedule at the time and whether we think can provide the outcome you are seeking.
The costs/fees above are meant to give you a general idea on the costs of working with an advisor. Other fees may apply depending on the services provided. Our goal in providing this information to be as transparent as possible. If you have questions feel free to call or email the office.
The novel coronavirus (COVID-19)'s effects on the financial markets has caused many people to question their investment strategy. Use this ebook to stay focused on your investment goals during challenging times.
Trust. Honesty. Integrity. We believe values matter, and we live by ours every day.
We create strategies that are tailored to your needs and goals.
Years of experience have prepared us to guide you through your life transitions.
Want to learn more about retirement, social security, or estate strategies? We have a wealth of resources.