Last week we had the pleasure of meeting with Debbie, who is about three years away from retirement. Like many people approaching this milestone, she faces several interconnected planning needs that require thoughtful guidance.
When we applied our complexity-based pricing model, the cost of service came to several thousand dollars per year. As I’ve shared in a previous post, our fee-and-offset pricing structure often reduces these planning fees because they are balanced by the asset management work clients entrust to us.
In Debbie’s case, however, most of her investment assets were tied up in her employer-sponsored retirement plan, meaning they couldn’t be transferred to our management at this time. Fortunately, she also had an IRA with a well-known investment company. Debbie was thrilled to learn that by moving that IRA under our care, her out-of-pocket planning fee would drop by nearly $1,000 annually.
This is exactly why we adopted the fee-and-offset model. In the past, we wouldn’t have been able to serve individuals like Debbie—people who truly need and want comprehensive planning—because asset management fees alone wouldn’t have covered the cost of our services. Now, clients like Debbie can access the planning support they deserve, while we have the privilege of building relationships with more wonderful families.
Securities and advisory services offered through LPL Financial, a registered investment advisor, Member FINRA/ SIPC.
This is a hypothetical situation based on real life examples. Names and circumstances have been changed. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investments or strategies may be appropriate for you, consult your advisor prior to investing.