How do you price your financial planning and investment services?
We believe that clients benefit most from a long-term relationship with an advisor over time, so we offer both financial planning and investment advice on an ongoing basis.
T Rowland Financial Services offers ongoing investment services on both full-service assets under management basis (we take care of everything for you) and retainer (advice only, which you implement).
- Asset Management
- Full-service asset management clients have all the same benefits as ongoing financial planning clients in terms of service level, access to tools, etc. In addition, we take care of investment management issues, including asset allocation, investment selections, and managing the tax impact of investments. We consolidate accounts as much as possible and make the different types of accounts you own work together as an entire portfolio designed to meet your objectives. We report to you periodically on how your portfolio is doing and stay abreast of your planning needs.
- We do not have an account minimum, but as a practical matter, for smaller accounts, an investment plan may be sufficient and be the most economical for you. We have clients from all walks of wealth.
- Investment-Only Retainers
- You can hire us as a consultant for investment work, where we review your portfolio on an ongoing basis and recommend transactions which you implement. This service is best for accounts which you may not transfer for management here, such as a 401(K) account or an annuity. Clients frequently have a blend of asset management and retainers so that all parts of their portfolios make a cohesive whole.
- The fee for retainers is individually determined. The starting point is roughly half the asset management fee, but the ultimate cost is determined based on complexity. Also, in contrast to the asset management service, the fee is a flat annual retainer fee which does not vary in price based on the amount of your assets. We reserve the right to change the fee in the future but do so infrequently and provide plenty of advance notice.
- Please know that in the retainer arrangement, we do not bear responsibility for the tax impact of investment changes, since we have no control over the implementation of our recommendations. There are also some situations we may not do on a retainer basis at all due to their greater complexity.
- One-Time Planning
- One-time plans are priced on an hourly rate or an agreed upon project fee. Factors included in our time estimate are the time we take to meet with your, researching and analyzing your situation, and formulating recommendations tailored to your situation. Before you hire us, we provide you with a written quote with the cost of the engagement. Because clients may hire us for a wide variety of needs, the quote may vary from several hundred to several thousands of dollars.
- Implementation help is not included in one-time planning, although we provide reminders, and referrals to other professionals you may need to execute the plan. The client always has the option to hire us at the hourly rate for implementation.
Our first step is an initial inquiry. Reach out to us by visiting our contact page and we’ll discuss your financial needs and how we can assist you.