Wealth Management FAQ

FAQs

 
How much does financial planning cost?

Flat Fee:- Advisors may charge a flat financial planning fee to create the initial plan in addition to an ongoing fee to update the plan and to provide advice throughout the year. In our experience, the average fee is $3000 initially and $1500 ongoing. However, you will want to set your own fees. The fees you decide on will differ depending on several factors, such as the number of services provided, geographic location, etc.

Hourly Fee:- Some advisors charge the client an hourly fee for financial consultation. In our experience, the average hourly fee is between $200-$250 per hour. Be sure to document the fees and hours of service provided.

What happens after the financial plan is completed?

Comprehensive and personalized financial advice:-
As your advisor, our goal is to help you develop and preserve a comprehensive financial plan that outlines your personal goals and objectives. We will assist you in selecting the strategy, or combination of strategies, that best suits your financial situation. We take a holistic approach to wealth management and will work with you to help ensure that your financial planning blueprint correlates to your goals at all stages of life.

Portfolio monitoring:-
We will review your personal situation with you to determine if any changes to your financial plan or investment strategy are appropriate. Market conditions, contributions and other factors may cause your asset allocation to shift. We will work with you to monitor your accounts to help ensure your portfolio remains aligned with your goals and objectives.

What is a Fee-based brokerage account?

In fee-based brokerage accounts, you pay your advisor a fee to assist you in managing your brokerage account including asset allocation, investment selection and ongoing portfolio management. 

Key feature include:

  • You and your advisor determine your investment selections.
  • Investment flexibility. Choice of mutual funds, stocks, bonds, ETFs.
  • Banking features. Check writing, debit cards, bill pay available.
What is a Separately managed account?

Separately managed accounts provide access to globally prominent money managers. Each manager selects the investments for a portion of your customized investment portfolio, which the manager actively manages on an ongoing basis.

Some of the potential advantages include:

  • Control. You own the securities and can customize a solution that meets your personal needs.
  • Tax efficiency. You can time when you want to realize capital gains, allowing you to better manage gains and losses.
  • Aligned with personal values. Specific securities or industries can be restricted from the portfolio.
  • Diversified*. You can eliminate securities that you hold large concentrations of in other accounts.
What is Wealth Management?

Wealth management is the integration of financial products and advisory services to assist affluent clients, their families and their businesses with the accumulation, preservation and transfer of wealth throughout the various stages of life.

Today's complex and ever changing financial world makes the need for comprehensive, professional advice even more compelling. To help you reach your goals, we provide the foundation; customized solutions for wealth management ranging from brokerage accounts to separately managed accounts and alternative investments**.

We will assist you in reviewing your existing portfolio, establishing your core objectives and providing advice on the following financial topics:

  • Investment vehicles
  • Portfolio evaluation
  • Risk tolerance
  • Asset allocation
  • Investment strategies
  • Cash flow analysis
  • Insurance planning
  • Income tax planning
  • Education funding
  • Estate planning

The cornerstone of wealth management is personal financial planning. Our goal is to assist you in constructing a comprehensive financial plan that will focus on your long-term goals rather than short-term market fluctuations. The construction of a financial plan begins with an analysis of your existing portfolio and financial circumstances. We will work with you to establish your core goals, identify your risk tolerance and develop an appropriate asset allocation* in order to build a customized portfolio that helps meet your personal objectives.

 
 
 

* Neither Asset Allocation nor Diversification guarantee against loss. They are methods used to help manage investment risk.

** Alternative Investments are often speculative, lack liquidity, lack diversification, are not subject to the same regulatory requirements as securities and mutual funds, may involve complex tax structures and delays in distributing important tax information, and may involve substantial fees. These products often execute trades on non-U.S. exchanges. Investing in foreign markets may entail risks that differ from those associated with investments in U.S. markets. These investments may not be appropriate for all investors.