So, how much is this going to cost? Fees may vary, but they generally follow the schedules below. If you have questions, just ask.

Please note that I can describe Approach Financial’s fees here, but other service providers (like custodians, 401(k) recordkeepers, and third-party administrators) may have additional charges. Any underlying investments may also have fees and expenses that you’re responsible for, although I typically use relatively low-cost ETFs and index funds. Don’t worry — that information is all available before you commit to anything. For complete details, it’s critical that you read the following:

  • My firm’s ADV
  • Disclosures from any service providers you may contract with
  • A prospectus or other disclosures from any potential investment

Investment Management

Disciplined portfolio management designed to help you pursue long-term goals.

Individual/household management: Based on combined household assets*

  • $0 – $250,000: 1.00%
  • $250,001 – $1,000,000: 0.85%
  • $1,000,001 and Above: 0.75%

Individual Financial Planning

For flat-fee and hourly engagements. Get the advice you need without any need to invest money or transfer assets. Depending on your needs, we’ll set up an hourly arrangement or agree on a flat “menu-style” fee

Hourly rate: $150 to $250 per hour.

Project-based fees: Minimum of $500.

In-depth, multi-faceted financial planning: Typically $1,800 to $3,500 up front. For ongoing engagements, $300 to $600 per quarter, paid in arrears.

Employer-Sponsored Plan Consulting

To help your business or nonprofit with 401(k) plans (or similar), there are several options.

Full-service consulting and management. Based on plan assets*.

  • $0 – $250,000: 1.25%
  • $250,001 – $1,000,000: 1.00%
  • $1,000,001 and Above: 0.75%

Flat-fee consulting. Depends on the scope of the project. Typically $250 per hour.

Employee education and enrollment only (if I’m not consulting on the plan): Minimum of $500 per meeting (online), up to $2,500 per seminar.

Free** Trial Access to Spending Tracker

Enjoy complimentary use of a budgeting tool that links to bank accounts, credit cards, and more—at no cost. I can’t promise it’ll be free forever, but you’re welcome to use it unless and until I need to change something. Track your net worth, and download your monthly transactions for long-term storage in a spreadsheet. What you need to know:

  • Sometimes the links to your bank accounts break, and you need to re-authorize
  • This is an account aggregator powered by Yodlee, offered through Right Capital
  • Your bank or credit union accounts might not be available (most are)
  • I can see your email address, and I may (or may not) communicate with you
  • I can see your basic financial information, such as account balances and spending in certain categories. I cannot see transactions unless you authorize that
  • I may eventually need to turn off open/trial access, which would mean you can no longer log in and use the tool. I don’t know if/when/why that would happen, but I’m telling you now

Sound good? Start using the tool for free.

The Details You Really Want

* The annual fees are negotiable and are pro-rated and paid in arrears on a quarterly basis. The advisory fee is a blended fee and is calculated by assessing the percentage rates using the predefined levels of assets as shown in the above chart and applying the fee to the account value as of the last business day of the quarter resulting in a combined weighted fee. For example, an account valued at $2,000,000 would pay an effective fee of 0.82% with the annual fee of $16,375. The quarterly fee is determined by the following calculation: (($250,000 x 1.00%) + ($750,000 x 0.85%) + ($1,000,000 x 0.75) ÷ 4 = $4,093.75. No increase in the annual fee shall be effective without agreement from the client by signing a new agreement or amendment to their current advisory agreement.

** There is no cost to you to use the tool. But access may be temporary and turned off at any time, based on several as-yet-unknown factors. I’ll do my best to provide advance notice before access goes away, but I cannot guarantee anything.