FEES

Unfortunately, we are not accepting new clients at this time.

Curious about the various ways financial services industry professionals are compensated? While there are variations, we feel there is some confusion regarding how our industry is structured and thought it might be helpful to give you the basics. 

Commissioned/Broker-Dealer - These are advisers who generally work with brokerage or insurance houses or the investment arms of large banking institutions. They are paid by commissions on selling products, such as insurance and annuities, and investments, usually in the form of loaded mutual funds or other investment products. The commissions on investment products typically range from 2% - 6% ($20,000-$60,000 on a 1M portfolio) and often decrease the more you invest. The adviser usually does not have a fiduciary responsibility, only what is called a suitability standard for the products sold. In other words, they are legally allowed to place their interests ahead of your own. 

Fee-Based - These advisers charge a separate financial planning fee, but may also receive commissions or other fees from the products they recommend or sell. They may or may not operate under a fiduciary standard.

Fee-Only - These advisers do not accept commissions, loads, or referral fees. They generally have a fiduciary responsibility. Many will charge a percentage-based asset management fee, often with an investable asset minimum. 

Robo-Advisors - There are quite a few of these choices for people who want a hands-off approach to investment management. They usually put your money in low-cost ETF funds and typically charge a fee of around .25%-.5% of assets invested ($2500 - $5000 annual on a 1M portfolio) to manage and rebalance the funds. If they offer additional financial planning it is generally not comprehensive.