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
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%
- Above $3,000,000: Contact me to discuss
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
QuickStart meeting (75 minutes of my undivided attention — a popular for quick tips): Currently $399
Project-based fees: Minimum of $500
Hourly rate: Typically $250 per hour, although I typically quote a flat fee based on an estimate of hours. I rarely do one-hour engagements.
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.
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.