FEE SCHEDULE
Financial Mastery Wealth Management provides various financial planning services to help you define, clarify and prioritize your financial goals, accumulate, protect and grow wealth. This may include consulting, financial analysis and recommendations regarding financial planning, wealth management, investment portfolio review, strategy, implementation and monitoring, tax planning, retirement planning, insurance planning (risk management), estate planning, saving for college, and other miscellaneous services which are billed at an hourly rate (see below) and a fee where applicable for investment portfolio management.
Fees for consulting services can be estimated in advance of engaging a project to help you plan accordingly (but there's generally a 4 hour minimum per engagement). A monthly retainer is usually arranged for on-going Financial Planning and Wealth Management Services for some clients.
Financial Mastery Wealth Management is a fee-only, independent firm, it only receives compensation from its clients. I do not sell any products, nor accept commissions of any kind.
I charge an hourly fee for financial planning and investment advice, just like a lawyer might, and that fee is the same for everyone. On such an hourly fee-basis the firm has no minimums, and does not base fees on a client's net worth. For on-going investment management there is a $1 million minimum requirement for assets under management (AUM.)
There are basically three types of engagement and corresponding fees:
- An hourly fee for financial planning, (see more about this service here)
- An annual fee for investment management. (this fee is determined as a percentage of Assets Under Management. See more below under "Investment Management Fees." (see more about this service here)
- A retainer for wealth management which combines on-going financial planning and investment portfolio management. (see more about this service here)
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| Hourly Fee for Financial Planning (if managing investments) |
$175/ hour |
| Hourly Fee for Consulting and Financial Planning (not managing investments) |
$200/ hour |
| Individual IRA or 401K Portfolio Make-Over ( give as a gift! ) |
$595 |
| Employee 401K Portfolio Make-over for Businesses (per employee) |
$550 |
| "Quickie" Financial Review — 4-6 hours ( give as a gift! ) |
$795 |
| Financial Planning Package 1 — 8-10 hours |
$1,300 |
| Financial Planning Package 2 — 14-16 hours |
$2,300 |
| Financial Planning Package 3 — 20-22 hours |
$3,300 |
| Non-profit Pro-Bono work |
FREE |
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Prior to financial planning and/or consulting services, the client will generally be required to enter into a written agreement setting forth the terms and conditions of the engagement and describing the scope of the services to be provided and the portion of the fee that is due from the client prior to commencing services. Generally, one-half of the financial planning / consulting fee is payable upon entering the written agreement (with a four hour minimum.) The balance is generally due upon delivery of the financial plan or completion of the agreed upon services. The above applies to all hourly services and packages (except for "Employee 401K Portfolio Make-Over for Businesses" which will be billed to the business after completion.)
The professional investment planning and management fee is based on the following progressive (bracketed) percentages:
- Up to the first $2 MM = 1.25 % of Assets Under Management (AUM)
- Next $2 MM (up to $4 MM) = 1 % of AUM
- Next $2 MM (up to $6 MM) = 0.9 % of AUM
- Next $4 MM (up to $10 MM) = 0.8 % of AUM
- Next $10 MM (up to $20 MM) = 0.7 % of AUM
- From $30 MM (up to $50 MM) = 0.6 % of AUM
Please note: minimum assets to place under management = 1 million
« see a fee table example »
The above annual fee represents one year of investment portfolio management, and are assessed and invoiced per each calendar quarter.
For example, a client having 3 million under management can expect to pay approximately $8,750 quarterly (the 1st 2 million at 1.25% is $25,000, then the additional 1 million at 1% is $10,000 for a total of $35,000. Divided by 4 = $8,750. The effective percentage fee for this AUM is 1.16%) For another example, with this bracketed fee schedule a client with 10 million in assets would pay a fee of 0.93% of Assets Under Management (AUM) - the more assets, the lower the overall fee percentage.
It is important to note that this is the ONLY compensation received in connection with managing a client's investment portfolio and that a portion of these fees are tax deductible (based on your AGI) under Tier II. "misc. investment expenses ". Please also note, 1.5-2% of assets are held as "cash" in the account to allow for paying trading expenses and the management fee.
Wealth Management combines on-going financial planning with professional investment management. Therefore, the fee combines an hourly rate for on-going financial planning (as per above under "hourly rates") and an annual fee for investment management (see above.) A monthly or annual retainer may be arranged with a negotiable fee. This would be a flat monthly / annual fee for on-going financial planning and advisory services in addition to the fee for investment management.
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