Are You A Fiduciary
Yes. I am a professional entrusted to manage assets and wealth, while putting your interest first at all times. I disclose any conflict to you before and during our engagement. I also have adopted and code of ethics, a signed fiduciary oath, and fully disclose how I'm compensated, which is fee only.
How Do You Charge
Financial Life Planning
(includes Financial Planning and Investment Managment combined)
1.25% per year of assets under management
*minimum of $250,000 of investable assets*
(includes Financial Planning)
$1,000 one-time up front fee
2% of income as an annual retainer charged in either monthly or quarterly installments
(includes Investment Management)
1% of of assets under management
What Is Fee Only
Fee only Financial Planners may be paid by retainer, as a percentage of assets under management (AUM), or as a flat fee. The way I charge is based on what is in your best interest and is most cost effective for you.
What Is An Annual Retainer
An Annual Retainer is a fee I charge to engage in Financial Planning. This fee can be paid in monthly or quarterly installments. It is paid out of your cash flow, which is why we believe in having the monthly or quarterly flexibility.
$240,000 (your current household income)
2% (annual retainer fee calculation for Financial Life Planning)
$4,800 (annual retainer fee for Financial Life Planning)
This Annual Retainer can be paid in a:
monthly capacity ($4,800 / 12 = $400 a month)
quarterly capacity ($4,000 / 4 = $1,200 a quarter)
out of your cashflow.
What Is An AUM Fee
An Assets Under Managment (AUM) fee is charged to the money I manage for you as a fiduciary. The fee is billed as a percentage of assets under management. The fee is charged in a quarterly capacity out of the accounts we manage for you at Charles Schwab or Betterment.
$100,000 (money you entrust me to manage for you as a fiduciary)
1% (annual AUM fee)
$1,000 (AUM Fee for the year)
That $1,000 is then divided by 4 (the AUM Fee paid quarterly)
$250 (the AUM comes out of your account automatically quarterly)
Do You Pay For The First Meeting
No! In fact, you don't pay for the first two meetings. In my opinion, we need to understand if we are a fit. You are interviewing me as your planner and I am interviewing you as my client. Our relationship is not a transaction. It is a lifelong partnership. It needs to feel right for on both sides. Our first meeting is an Intro Call and our second meeting is called Exploration. At the end of the Exploration meeting, I will quote the exact fee to work together. If we mutually agree that we are not a fit, I will recommend another professional that better suits your needs. That is what a fiduciary should do.
Why Should You Work With Me
My favorite question! The best answer I can give you is that I care and will care more than any other Financial Planner out there. I don't measure success by account performance. I measure success by if you and the people you care most about are living their best lives, while also planning for the future.
The traditional answer, that might be just as important to you, is that I have over a decade of experience as prestigious firms like Merrill Lynch, Morgan Stanley and Goldman Sachs. I have a Bachelors of Science Degree in Business Administration from Penn State. I am a CFP® Pro, member of NAPFA and the Fee Only Network. I am also pursuing my Registered Life Planner® designation through the Kinder Institute of Life Planning. Upon completion, I plan to pursue the Investments and Wealth Institute's Certified Private Wealth Advisor® advanced designation.
Do You Have To Come To My Office
No! Our meetings are Zoom based with the latest security updates. You can stay safe in the comfort of your own home and we are able to have a productive and beautiful conversation.
What Is Financial Life Planning
Financial Life Planning is what real Financial Planning should be. In my mind, you can't be a real fiduciary until you know the person. Financial Life Planning is my process of putting the person before the money. Without knowing the person, planning is without energy.
What Is EVOKE®
EVOKE® is my 5 step process for Financial Life Planning. It stands for Exploration, Vision, Obstacles, Knowledge, and Execution. It is the process of melding money with meaning. EVOKE® puts you and the people you care about before the money. EVOKE® is the truly beautiful and everyone that believes that deserves to be taken through that process if they want.
Do I Manage Your Investments
Yes! Investment Management is certainly something I do for my clients. I develop portfolios that are tailored to your goals, dreams, and level of risk you are comfortable with. We can help you manage your existing investments or design a portfolio from scratch. Most Financial Planners, Financial Advisors and Investment Professionals only work with clients if they invest their money. Modern Wealth is different! If you choose to manage your own portfolio, while utilizing us for Financial Life Planning, that is fine too!
What Is A CFP® Pro
For more than 30 years, CERTIFIED FINANCIAL PLANNER™ certification has been the standard of excellence for financial planners. CFP® professionals have met extensive training and experience requirements, and commit to CFP Board's ethical standards that require them to put their clients' interests first. That's why partnering with a CFP® professional gives consumers confidence today and a more secure tomorrow.
What Is A RLP®
A Registered Life Planner® focuses on the human side of financial planning. In Financial Life Planning, a RLP® discovers a client’s deepest and most profound goals through a mindfulness-based process of structured and non-judgmental inquiry. Then, using a mix of professional and advanced relationship skills, a RLP® inspires clients to pursue their aspirations, discusses and resolves obstacles, creates a concrete financial life plan, and provides ongoing guidance as clients accomplish their objectives. Financial Life Planning is Financial Planning done right!
Who Is My Typical Client
I work with everyone. I do not believe in minimums for account size. If you want help, you deserve it. My ideal clients tend to be individuals or couples who understand the value and beauty EVOKE® Financial Life Planning can bring to their lives. If you are looking to balance your ideal life today, while also planning for goals tomorrow, I'd love to help. If you are looking for someone to guide you strictly with investments, that is not me.
How Do You Know If You Ready
If you're asking yourself that question, you are. Modern Wealth is built upon helping anyone that needs help and wants help. Unlike most firms, we do not believe in a minimum account size. If you are debating if now is the right time, it is. If you think it's too early, it isn't. If you think it's too late, it's not. And if for some reason, we are not the right fit, we will find someone for you that is.
What Are The First Steps
The Intro Call is the start of our EVOKE® Financial Life Planning process and is a chance to get to know each other. You can expect:
No sales talk whatsoever
The ability to ask me anything
An opportunity to share your goals
A transparent dialogue about my fees
An honest conversation to see if we are a fit
A vision of what the relationship would look like together
At the end of this meeting, we will either decide to schedule our Exploration meeting or I'll recommend another planner that may be a better fit for you. There is no commitment other than time at this point.