COMPREHENSIVE FINANCIAL PLANNING
Comprehensive Financial Planning fees are billed as a monthly retainer fee with an initial retainer due upon execution of the agreement and generally range from $100- $250 per month depending upon complexity of clients circumstances and work involved to address all relevant areas of your financial plan. This structure is designed to be consistent with the ongoing nature of financial planning services and to be more affordable than a one-time plan fee.
The initial retainer fee will generally be between two and three times the monthly fee quoted and the monthly retainer will commence approximately 3-6 weeks after execution of the agreement. The monthly fee may be reduced after approximately 12-18 months to reflect frequency and complexity of periodic updates going forward to relevant areas of clients financial plan and future consultations. Actual fee will be determined during the complimentary Discovery Consultation.
Portnoff Financial's Investment Management fee is based upon the total household value of the account(s) under management (AUM) or Advisement (AUA) calculated and deducted on a monthly basis directly from the managed account(s) according to the following schedule:
|Managed Account Amounts||Fee %*|
|Amounts over $2,000,000||0.20%|
For example, a $1,000,000 household account would be calculated as follows:
$250,000 x 0.90% + $250,000 x 0.70% + $500,000 x 0.55% = 0.68% blended average
Portnoff Financial generally requires a minimum household investment account size of $500,000*. Portnoff Financial reserves the right at its sole discretion to reduce or waive this minimum requirement depending upon circumstances. *Some clients may pay different fees depending upon prior agreements.
Investment management fees that are applied to Client assets outside of accounts managed directly by PF (such as employer based retirement plans) will be charged at the lowest marginal rate according to the schedule above. For example; if the total household value of accounts under management by PF is $500,000 ($250,000 @ 0.90% + $250,000 @ 0.70%) and the value of employer retirement accounts not under management but under advisement is $250,000, that amount would be billed separately at 0.55%. These fees will be agreed upon in advance, charged as a flat monthly fee, and adjusted periodically as necessary.
Any applicable Financial Planning fee may be reviewed periodically for reduction or elimination as the aggregate household managed account value begins to exceed $500,000 or as negotiated between Portnoff Financial and the client.
Portnoff Financial LLC does not take custody of client funds at any time. All client accounts are maintained separately at TD Ameritrade Institutional. This separation between your advisor and where your account is held creates the proper checks and balances to ensure safety of client assets. Additional custodial fees will apply depending upon account size and will be disclosed prior to execution of any investment strategy.
"You can't afford free; it's too expensive!" -Ed Slott