The scope of work and fee for a Financial Services Agreement is provided to the client in writing prior to the start of the relationship. There may be an initial, financial planning fee for the first 3-6 months during the financial planning and asset accumulation process. That fee is variable and dependent upon such issues as the complexity of the initial planning work and the size and scope of the client’s portfolio. Any initial, fixed fee is billed in arrears. After that period, the fee schedule for clients is:
- 1.00% on the first $1,000,000 of assets under management;
- 0.75% on assets in excess of $1,000,000.
All fees are billed quarterly, in arrears, with the minimum annual fee $5,000. Fees are negotiable, and client relationships may exist where the fees are higher or lower than the fee schedule above.
Some individuals have limited assets and may not require on-going financial planning or asset management services. For those clients, a one-time project fee would be determined.
There are no fees to prospective clients for an initial meeting.