Fees
How I charge
I am fee-only: you pay me directly, and nothing else pays me. Every fee is agreed in writing before work begins, and each one below matches my Form ADV Part 2A.
Six ways to work together
What each plan costs
Hover over a plan to see everything it includes.
Financial Plan
A one-time financial planning project that may include any or all of:
- Investment planning and analysis
- Retirement savings and income
- Estate planning and documents
- Tax analysis and planning
- Risk management and insurance
- Employee benefits optimization
- Equity compensation planning
- Education planning and funding
- Cash flow and debt management
Anyone who wants a clear, written plan for a specific decision or stage of life, without an ongoing commitment, and is comfortable putting it into action themselves.
Investment Management
Professional investment management from a fiduciary. Tiered: 1.00% on the first $1,000,000, falling to 0.30% above $10,000,000.
- Portfolios built around your goals
- Globally diversified models
- Asset allocation and location
- Direct indexing and tax management
- Alternatives and private investments
- Scheduled reviews and rebalancing
Investors who want their portfolio managed by a fiduciary but don't need ongoing financial planning. There is no account minimum.
Wealth Planning
Comprehensive, ongoing financial planning, beginning with the EVOKE® onboarding process, across:
- Investment planning and analysis
- Retirement savings and income
- Estate planning and documents
- Tax analysis and planning
- Risk management and insurance
- Employee benefits optimization
- Equity compensation planning
- Education planning and funding
- Cash flow and debt management
Entrepreneurs and executives who want a planner in their corner year-round, keeping the plan current as life, taxes and goals change.
Private Wealth Management
Ongoing investment management and financial planning together ($500,000 minimum). Tiered: 1.25% on the first $1,000,000, falling to 0.30% above $10,000,000. The investments:
- Portfolios built around your goals
- Globally diversified models
- Asset allocation and location
- Direct indexing and tax management
- Alternatives and private investments
- Scheduled reviews and rebalancing
And financial planning across:
- Investment planning and analysis
- Retirement savings and income
- Estate planning and documents
- Tax analysis and planning
- Risk management and insurance
- Employee benefits optimization
- Equity compensation planning
- Education planning and funding
- Cash flow and debt management
Households with $500,000 or more to invest who want one advisor coordinating their investments and their whole financial plan.
Wealth Planning & Business Advisory
Ongoing financial planning and business advisory. Set by the business's annual revenue: under $5,000,000, from $10,000 a year; $5,000,000 to $15,000,000, from $15,000; above $15,000,000, from $20,000. Across:
- Investment planning and analysis
- Retirement savings and income
- Estate planning and documents
- Tax analysis and planning
- Risk management and insurance
- Employee benefits optimization
- Equity compensation planning
- Education planning and funding
- Cash flow and debt management
- Business Value Assessment
- Business Value Acceleration
- Business Exit Planning
Business owners whose wealth is tied up in the company, who want the business and the household planned as one, from building its value to the exit.
Retirement Plan Services
Fiduciary advice for your company's retirement plan, billed to the plan, not your household. Tiered: 0.50% on the first $1,000,000, falling to 0.20% above $10,000,000. Includes:
- 3(21) or 3(38) fiduciary role
- Investment Policy Statement
- Investment menu and monitoring
- Fee benchmarking and vendor search
- Plan design consulting
- Committee meetings, fiduciary file
- Employee education and enrollment
- New plans on Altruist or Vestwell
Business owners who sponsor a company retirement plan, or want to start one, and want it working for the owners, the team and an eventual sale.
Fees are described in full in our Form ADV Part 2A.
Investment fees
Tiered, so the rate falls as assets grow
Investment Management and Private Wealth Management are billed on the assets I manage. The two schedules differ only on the first $1,000,000.
Investment Management
| Account Value | Fee |
|---|---|
| First $1,000,000 | 1.00% |
| $1,000,001 – $2,000,000 | 0.90% |
| $2,000,001 – $3,000,000 | 0.80% |
| $3,000,001 – $4,000,000 | 0.70% |
| $4,000,001 – $5,000,000 | 0.60% |
| $5,000,001 – $7,500,000 | 0.50% |
| $7,500,001 – $10,000,000 | 0.40% |
| $10,000,001 and above | 0.30% |
Fees are tiered, so each portion of your assets is billed at the rate for its band. On a $2,500,000 Investment Management relationship, the annual fee is $23,000, a blended rate of 0.92%.
Private Wealth Management
| Account Value | Fee |
|---|---|
| First $1,000,000 | 1.25% |
| $1,000,001 – $2,000,000 | 0.90% |
| $2,000,001 – $3,000,000 | 0.80% |
| $3,000,001 – $4,000,000 | 0.70% |
| $4,000,001 – $5,000,000 | 0.60% |
| $5,000,001 – $7,500,000 | 0.50% |
| $7,500,001 – $10,000,000 | 0.40% |
| $10,000,001 and above | 0.30% |
Fees are tiered, so each portion of your assets is billed at the rate for its band. On a $2,500,000 Private Wealth Management relationship, the annual fee is $25,500, a blended rate of 1.02%.
- Billed quarterly, in arrears, on the account value at the end of the previous quarter
- Debited directly from the account, prorated for any partial quarter
- Accounts of people living in the same household are combined to reach a lower tier
- Investment Management has no minimum; Private Wealth Management starts at $500,000
Fees are described in full in our Form ADV Part 2A.
Planning fees
Fixed fees for planning
Planning is billed as a fixed fee, agreed in writing before work begins.
Financial Plan
A one-time project for a fixed fee of $1,000 to $5,000.
- Set by the project's scope, its complexity and the number of planning areas it covers
- Paid by check or through an independent payment processor
- If the project ends early, prepaid fees are refunded pro rata, or anything owed for completed work is due
Wealth Planning
Ongoing planning for $5,000 to $10,000 a year, after a one-time $1,000 setup.
- Billed monthly
- Reviewed each year, and may be adjusted at that review
- If you end the service, any unused fee is prorated and refunded
Wealth Planning & Business Advisory
Ongoing planning and business advisory, set by the business's annual gross revenue.
- Billed monthly
- Reviewed each year, and may be adjusted at that review
- If you end the service, any unused fee is prorated and refunded
| Business Revenue | One-Time Setup | Annual Fee |
|---|---|---|
| Under $5,000,000 | $3,000 | From $10,000 |
| $5,000,000 to $15,000,000 | $4,000 | From $15,000 |
| $15,000,000 and above | $5,000 | From $20,000 |
Fees are described in full in our Form ADV Part 2A.
For the company's plan
Retirement Plan Services
This fee is charged to your company's retirement plan, not to your household. It is a percentage of total plan assets, paid from the plan.
- Billed quarterly, in arrears
- Paid from plan assets
- No minimum plan size
What the engagement includes: Retirement Plan Services.
| Plan Assets | Fee |
|---|---|
| First $1,000,000 | 0.50% |
| $1,000,001 – $2,000,000 | 0.45% |
| $2,000,001 – $3,000,000 | 0.40% |
| $3,000,001 – $4,000,000 | 0.35% |
| $4,000,001 – $5,000,000 | 0.30% |
| $5,000,001 – $10,000,000 | 0.25% |
| $10,000,001 and above | 0.20% |
Fees are tiered, so each portion of the plan's assets is billed at the rate for its band. On a $3,000,000 plan, the annual fee is $13,500, a blended rate of 0.45%.
Fees are described in full in our Form ADV Part 2A.
What I never charge
One fee, and it is the whole of what I receive.
- Commissions on any investment or insurance product
- Referral fees for sending you to anyone
- 12b-1 fees, revenue sharing or other payments from fund companies
- Performance-based fees
Custodians, brokers and funds have their own charges, such as transaction fees and fund expense ratios. Those are separate from my fee, and I receive no part of them.
Common questions
- Are the fees negotiable?
- They can be. My Form ADV notes that fees may be negotiable in specific circumstances, and anything we agree is set out in writing before work begins.
- Can my fee go up?
- Not without your agreement. An investment fee cannot increase unless you sign a new agreement or an amendment. Ongoing planning fees are reviewed each year and may be adjusted at that review, which we talk through together.
- How do I end the relationship?
- Investment Management and Private Wealth Management end with 30 days' written notice; because those fees are paid in arrears, there is nothing to refund. For ongoing planning, any unused fee is prorated and refunded. If you did not receive my brochure at least 48 hours before signing, you can cancel within five business days of signing without paying any advisory fee.
- Do other costs come out of my accounts?
- Yes, and none of them come to me. Custodians and brokers can charge transaction, wire and similar fees, and mutual funds and ETFs carry their own internal expenses, shown in each fund's prospectus. Those are separate from my fee, and I receive no part of them.
Check any of this yourself in my Form ADV Part 2A, or look up Modern Wealth (CRD 300407) on the SEC's adviser search.
Start with a conversation.
A complimentary thirty-minute Exploration Call. No pressure, no commissions, no agenda but yours.