Retainer Services Overview
Retainer services are designed for individuals and families that are seeking out a long term relationship with structured and competent guidance.
Family CFO Services is our fee-only retainer service. It is designed for clients that have high requirements of time and competence from their advisor. Generally individuals and families that engage in this service have an income exceeding $250,000 and/or a net worth exceeding $1 Million, want an initial financial plan built, and want unlimited access for review meetings and check-ins. They desire assistance in reaching and maintaining a high level of financial organization and also generally have a need or desire for access to professional investment management. These clients are not, however, required to have their investments managed by the firm.
The fee structure for this service is intentionally uncommon based on several problems that we see with the industry’s status quo as it relates to compensation structure. For further perspective on how and why we arrived where we have on this, click here.
Family CFO Services
- Initial plan development and implementation via bi-weekly meetings until complete
- Ongoing plan monitoring and refinement via quarterly meetings
- Additional email support, phone support, and meetings scheduled as needed with no additional charge
- Annual comprehensive plan update
- Client can choose between any combination of guided self-directed investing, referral to an appropriate 3rd party manager, or discretionary account management with direct or sub-advisor management
- Initial Fee: $1,500
- Recurring Fee: $500 per month or $1,500 per quarter if custodial billing is selected
- Asset Management Fee: 25 bps on all assets that are directly supervised and administered by the firm
Initial fees for this service may be paid by electronic funds transfer. Fees are paid in advance of services delivered.
Recurring fees for this service may be paid monthly, in advance by electronic funds transfer or quarterly,in arrears via custodial billing.
This service may be terminated within 10 days’ notice. Upon termination of any agreement, the fee will be pro-rated and any unearned fee will be refunded to the client.