|
Once the analysis is complete, I will prepare a final written report outlining your financial goals and objectives, identifying any deficiencies and providing specific recommendations. I will also present at this time a detailed analysis of the results of the risk tolerance questionnaire. I will present these reports to you along with my analysis and recommendations. This meeting usually takes a minimum of two hours. At the end of this meeting, you have two options -
-
You can decide to accept the plan as is and do everything from this point on your own. My fee would be my hourly rate of $125/hr multiplied by the hours needed to analyze your circumstances and complete your report.
-
For a percentage of assets under management (billed quarterly), I will design and set up the necessary accounts and portfolios, rebalance them periodically, and change the portfolio allocations if events warrant. Quarterly, you would receive statements detailing the performance of assets under management. We would meet no less then annually for a review. For clients who choose this option, I am always available for questions, advice and recommendations for any family financial issues; even if they don't concern the assets I am managing. I do not charge a management fee for assets that I recommend you invest elsewhere, such as in non-traded REITs, annuities etc. I do not share fees with any other professionals that I may recommend to you. I have no financial gain in any particular purchase recommendations that I make. The asset based fee you pay me is the total compensation that I receive for managing your accounts. Once I have your approval to proceed, I will initiate the paperwork necessary to open accounts and transfer assets to Charles Schwab & Co. From this point, account opening and transfers take approximately four to six weeks. I can coordinate with other professionals such as attorneys, CPAs or insurance agents to implement the non investment recommendations.
|