Pricing
Fees, written down.
Every dollar we are paid is on this page. If you find a fee we earn that is not here, we will refund the year.
The schedule
Flat for advice. Tiered for management.
| Service | Who it is for | Fee |
|---|---|---|
| Retirement planning | Households within fifteen years of retirement. Includes tax planning and estate coordination. | $4,800 to $9,600 a year |
| Equity compensation | RSUs, ISOs, NSOs, ESPP. Twelve to twenty four months. Includes the tax layer. | $3,600 to $7,200 |
| Tax planning, standalone | Households with their own plan who need the calendar and the conversions run. | $2,400 to $4,800 a year |
| Estate coordination, standalone | A beneficiary audit, titling review and one attorney meeting. | $1,800 |
| One time plan | The four meetings and the week eight follow up, no ongoing reviews. | First year fee |
| Balance | Rate | Example |
|---|---|---|
| First $1,000,000 | 0.85% | $8,500 on the first million |
| Next $1,000,000 | 0.70% | $7,000 on the second |
| Above $2,000,000 | 0.60% | $6,000 per million after that |
Where a range is shown, the number for your household is set in the free intro meeting, written into the agreement, and does not change for the year. Planning fees are not a percentage of assets and do not rise when the market does.
What we do not earn
Commissions: $0. Referral fees: $0. Fund payments: $0.
We are paid by clients and by nobody else. We do not receive commissions on any investment, insurance or annuity. We do not receive revenue sharing, 12b-1 fees, soft dollars or marketing support from any fund company. We do not receive referral fees from attorneys, CPAs, mortgage brokers or anyone we send you to, and we do not pay any to receive clients.
The custodian that holds client accounts provides us with trading and reporting software, as it does for every adviser on its platform. We do not receive payments from it. The full list of relationships, which is short, is in the disclosures.
A typical household with a retirement plan at $6,000 and a managed $1.2M portfolio pays about $15,900 a year, all in. We put that number on the website because most firms would rather you did the math after signing.
Flat versus 1%
The same portfolio, two fee schedules, 30 years.
$1,500,000 invested, 6% a year before fees. One advisor takes 1% of the balance every year. The other takes a flat $7,200. Total fees paid:
How billing works
Quarterly, in advance, in dollars.
Planning fees are billed quarterly in advance by invoice or, if you prefer, deducted from a managed account. Management fees are billed quarterly in arrears on the average daily balance, and the dollar amount is printed on your one page report every quarter. You will never have to work out what a percentage came to.
You can end the agreement any time with written notice. Prepaid planning fees for the rest of the quarter are refunded in full. There is no termination fee and no minimum term after the first plan is delivered.
- Minimum
- None on assets. The planning fee is the minimum, and it is on this page.
- Increases
- Planning fees are reviewed each January and change only with written notice 60 days ahead. Most years they do not change.
- Payment
- Invoice by ACH or card, or deduction from a managed account. Never a check made out to an individual.
- Refunds
- Unused prepaid planning fees, in full, on termination.