Fiduciary Relationship and Fees
A Fiduciary Responsibility to our Clients
As a Registered Investment Advisory Firm, we are held to a higher ethical and legal standard than other types of financial professional. We are fiduciaries and have a fiduciary duty to our clients. A fiduciary duty is the highest standard of care imposed by law. As fiduciaries, we must put the interests of our clients above our own. We have a duty to disclose all important facts and to avoid any conflict of interest.
We charge a fee rather than a commission for wealth management and financial planning. As such, we work for our clients. We do not work for a brokerage firm, trust company or bank, which routinely charge commissions. We do receive a commission when we sell insurance products, such as a life insurance policy, or a long-term care insurance policy.
Our wealth management fee is based on the total of assets under management in your account(s). Our fees are competitive and are based on our expertise, years of experience, resources and service level. We utilize Charles Schwab as the custodian for your assets. Charles Schwab holds more assets under management than any other custodian.
Annual Account Management Fee
Up to $249,999 1.75%
$250,001 – $499,999 1.50%
$500,000 – $999,999 1.25%
Above $5,000,000 Negotiable
Management fees are deducted from your Charles Schwab account on a quarterly basis. Fees are negotiable and will vary depending on the complexity of the client’s needs, number of accounts and the services to be provided. The fee schedule represents the maximum rate that could be charged for the specific asset level.
Financial planning fees are determined on a case by case basis. A complementary interview is performed prior to commencement of financial planning to determine the complexity and scope of the financial planning needs. A written quote for financial planning will be provided to the client prior to commencement.