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Modern Wealth is an Independent Fiduciary providing Fee-Only Financial Planning and Wealth Management for Gen X Entrepreneurs and Small Business Owners.
We believe real Financial Planning paves the way to your freedom. Real Financial Planning is about discovering and realizing your dreams, enabling you to restructure your financial priorities and align your resources with a life of utmost value, meaning, and purpose.
We do this by seamlessly integrating Life Planning (utilizing the EVOKE® Life Planning process as a Registered Life Planner), Financial Planning, Wealth Management (leveraging CERTIFIED FINANCIAL PLANNER™ and Certified Private Wealth Advisor® processes), and Business Value and Exit Planning (employing the Certified Exit Planning Advisor Value Acceleration Methodology™) into a tailored process for every client.
Attention all Gen X Entrepreneurs and Small Business Owners! Are you tired of dealing with Financial Planners who are beholden to large brokerage firms and push commission-based products? Look no further! At Modern Wealth, we're here to serve as your dedicated fiduciary, always acting in your best interests. Say goodbye to hidden agendas and hello to personalized financial guidance. Take the next step towards financial freedom by clicking "Learn More" or scheduling an Intro Call today! Your best life is waiting!
Investment Management
Portfolio Management
Investment Planning
Diversification & Analytics
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Retirement Planning
Retirement Savings Plan
Retirement Income Plan
Social Security & Medicare
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Tax Planning
Individual Tax Returns
Trust Tax Returns
Business Tax Returns
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Estate Planning
Legacy Planning
Essential Documents
Charitable Giving
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Risk Management
Life Insurance
Disability and Ling-Term Care
Homeowners, Auto, and Umbrella
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Education Planning
Education Savings Strategies
College Savings Accounts
Financial Aid Opportunities
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Cash Flow Planning
Income and Expense Issues
Budgeting and Cash Flow
Debt Management
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Business Planning
Value Acceleration
Exit Planning
Taxation & Retirement Plans
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Executive Compensation
RSUs, ISOs, and NQSOs
Investment and Tax Issues
Wealth Planning Opportunities
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Fiduciary
At Modern Wealth, we are committed to being a genuine fiduciary in every sense. Our belief is that a fiduciary is a professional who is entrusted with the responsibility of managing your assets and wealth, ensuring that your best interests are prioritized at all times.
We adhere to a fiduciary standard, which means we are obligated to disclose any conflicts or potential conflicts of interest before and during our engagement with you. Additionally, fiduciaries should uphold a code of ethics and provide full transparency regarding their compensation structure.
As a true fiduciary, Modern Wealth has taken a fiduciary oath, underscoring our unwavering commitment to always act in the best interests of our clients. We are dedicated to continuously seeking ways to minimize fees and expenses, recognizing that a trusted partner is paramount when your financial livelihood is at stake.
Independent
As an Independent Registered Investment Advisor (RIA), Modern Wealth operates with complete autonomy, serving the best interests of our clients without any influence from large corporations or shareholders.
Unlike advisors tied to specific investment or insurance companies, we are not bound by proprietary products or inventory, nor are we subjected to the production requirements of any particular firm. Our primary focus is always what is in the best interest of our clients, free from any external influences, and we strictly adhere to the fiduciary standard.
To ensure that your advisor, or potential advisor, upholds the fiduciary standard, we recommend requesting to review their ADV (a form filed with the SEC) and inquiring about their commitment to a fiduciary oath.
Fee-Only
Modern Wealth, operating as an Independent Fiduciary, takes pride in offering Fee-Only Financial Planning and Wealth Management services.
The Fee-Only compensation structure stands out as the most transparent and unbiased method available. By adopting this model, we effectively minimize conflicts of interest and uphold our fiduciary duty to you.
Fee-Only planners receive direct compensation from their clients for providing advice, implementing financial plans, and managing assets on an ongoing basis.
In the realm of financial planning, there are three distinct compensation models: commission-based, fee-based, and fee-only. These models greatly impact whether an advisor can be considered a “true” fiduciary. At Modern Wealth, we firmly believe that a firm and its financial planners must operate under the fee-only model to embody true fiduciary principles.
Schedule an Intro Call
If you feel our model could fit you, your family, your business, or your life, please schedule an Intro Call. We would happily have a no-obligation, transparent, and confidential call with you.
Frequently Asked Questions
What Does The Onboarding Process Look Like?
Our onboarding process is called EVOKE®, and we can promise you it is unlike anything you have ever experienced with your money. To get a better understanding of each stage of EVOKE®, please click here.
Are You A Fiduciary
Yes! Our clients entrust us to manage assets and their wealth, and if they exist, we disclose conflicts of interest before and during our engagement. We have also adopted a code of ethics, signed a fiduciary oath, and fully disclose how we are compensated.
What Are The Fees
EVOKE® Financial Life Planning and Wealth Management
(includes EVOKE® Financial Planning and Investment Management combined)
1.25% per year of Assets Under Management
*Minimum of $500,000 of investable assets*
EVOKE® Financial Planning and Wealth Management
A one time up front fee of $1,200
+
2.5% of income as an annual retainer conveniently paid in either monthly or quarterly installments
Investment Management
1% of of Assets Under Management
*no minimum*
What Is Fee-Only
Fee-Only Financial Planners may be paid by retainer, as a percentage of Assets Under Management (AUM), hourly, or as a flat fee. We charge 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 we charge to engage in EVOKE® Financial Life Planning and Wealth Management. The fee can be paid in monthly or quarterly installments.
Example
$240,000 (your current household income) x 2.5% (annual retainer fee calculation for EVOKE® Financial Life Planning and Wealth Management) = $6,000 (annual retainer fee for Financial Life Planning)
This Annual Retainer can be paid in a monthly capacity ($6,000 / 12 = $500 a month) or quarterly capacity ($6,000 / 4 = $1,500 a quarter) out of your cash flow.
What Is An AUM Fee
An Assets Under Management (AUM) fee is charged to the money we manage for you as a fiduciary. The fee is billed as a percentage of assets under management and is charged quarterly out of the accounts.
Example
$100,000 (money you entrust us to manage for you as a fiduciary) x 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 automatically comes out of your account quarterly).
Do You Pay For The First Meeting
No! You don't pay for the first two meetings. First, we need to understand if we are a fit. You are interviewing us as your Fiduciary and Wealth Advisor, and we are interviewing you as our client. Our relationship is not a transaction. It needs to feel right for all parties involved.
Our first meeting is an Intro Call, and our second is Exploration. At the end of the Exploration meeting, we will quote the exact fee to work together. If we agree we are not fit, we recommend another fiduciary that suits your needs or reach back out when you are ready.
Why Should You Work With Us
Our favorite question! The best answer we can give you is that we care and will care more than any other firm. We don't measure success by account of performance (of course, we know it’s important). Instead, we measure success by whether you and the people you care about are living their best lives, while also achieving your goals for the future.
The traditional answer, which might be just as important to you, is that we have over a decade of experience helping good people and families achieve what’s most important to them. We have experience at reputable firms such as Merrill Lynch, Morgan Stanley, and Goldman Sachs.
We have also been featured and quoted in publications such as The Philadelphia Inquirer, The New York Times, MarketWatch, ABC, NBC, MSN, Fox News, Markets Insider, XY Planning Network, The Financial Planning Association, The Fee-Only Network, PR Newswire, and Ask.com.
Our education is among the industry's most prestigious, including the CERTIFIED FINANCIAL PLANNER™ pro, the Certified Private Wealth Advisor® advanced designation, and the Registered Life Planner® designation.
Do You Have To Come To Our Office
No! Our meetings are Zoom-based with the latest security updates. So you can stay safe in the comfort of your own home, and we can have a productive and beautiful conversation to achieve your best life.
Do We Work With Clients From Any State
Yes, we do! We use the latest technology and security to work with our clients throughout the United States.
What Does This Relationship Look Like?
We are "not your father's broker." This is a holistic relationship that starts with you as a person, and then we get to the money. For a detailed explanation, please download the Modern Wealth Experience here.
What Financial Life Plannning
Financial Life Planning and Wealth Management is what real Financial Planning should be. Financial Life Planning is our process of putting the person before the money because without knowing the person, planning is without energy. Financial Life Planning is the process of discovering the whole life we long to live and making it happen, no matter where we start.
What Is EVOKE®
EVOKE® is our 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 truly beautiful and everyone that believes that deserves to be taken through that process if they want.
Do We Manage Your Investments
Yes! Investment Management is certainly something we do for our clients. We develop portfolios that are tailored to your goals, dreams, time horizon, 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 manage their money. Modern Wealth is different! If you choose to manage your own portfolio, while utilizing us for EVOKE® Financial Life Planning and Wealth Management, that is fine too!
What Is The CFP® Pro Designation
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 the RLP® Designation
A Registered Life Planner® focuses on the human side of financial planning. In Financial Life Planning, an RLP® discovers a client’s most profound goals through a mindfulness-based, non-judgmental inquiry. Then, using professional and advanced relationship skills, an RLP® inspires clients to pursue their aspirations and resolves obstacles, creating a concrete Financial Life Plan.
What Is The CPWA® Designation
The Certified Private Wealth Advisor® (CPWA®) is an advanced professional certification for advisors who serve high-net-worth clients. It’s designed for seasoned professionals who seek the latest, most advanced knowledge and techniques to address the sophisticated needs of clients who are entrepreneurs, small business owners, and corporate executives.
What Is The CEPA® Designation
CEPA® stands for Certified Exit Planning Advisor®. It is a professional designation and certification program for professionals who specialize in helping business owners plan and execute successful exits from their businesses. CEPA® is administered by the Exit Planning Institute (EPI), a leading authority on exit planning education and resources.
CEPA® advisors work closely with business owners to develop personalized exit plans that align with their financial goals and personal objectives. They help business owners evaluate their options, prepare their businesses for sale or transfer, and navigate the complexities of the exit process. By providing strategic guidance and expertise, CEPA® professionals aim to maximize the value of the business and help business owners achieve a successful transition.
Who Is Our Typical Client
We specialize in working with the unique needs of Generation X individuals and families who tend to be small business owners and entrepreneurs. However, we can work with everyone who feels they could benefit from the EVOKE® Financial Life Planning and Wealth Management process and what it could bring to their life!
What Are The First Steps
Our first step together is the Intro Call. The Intro Call is the start of our EVOKE® Financial Life Planning & Wealth Management process, but most importantly, a chance to get to know each other.
You can expect:
No sales talk whatsoever
The ability to ask us anything
An opportunity to share your goals
A transparent dialogue about our fees
An honest conversation to see if we are a fit
At the end of this meeting, we’ll either decide to schedule our Exploration meeting or recommend another planner that may be a better fit for you. There is no commitment other than the time at this point.