Transparent Fees Are Important and Here’s Why
You work hard for your money and you should know how you’re spending it. At Taylor Financial Group, we understand that, which is why we believe that transparency is one of the most important things we can offer. We provide a list of services and a clear fee structure that’s easy to understand, so that you know what you’re paying for and why. Not to mention, we believe that it’s our duty to you as your financial advisor.
One-Hour Consultation = $250
This fee not only covers your initial meeting, but also the preparation that occurs prior to (and after) your first meeting. We start our process by giving you the opportunity to complete a brief organizer to help you gather your information. Then, we hold an initial meeting where we review your financial situation and discuss whatever is on your mind. That meeting also gives us an opportunity to get to know each other, discuss your needs, and decide if the relationship is a good fit. Afterwards, we create a personal proposal that lays out specific areas where we would work together and help to make a difference in your life. If we choose to work together, your initial consultation is considered complimentary and is credited back to you in your overall financial planning fee.
The Creation of Financial Plans
A financial plan involves many steps, all of which are important to building a map that will help you live life to the fullest and with financial confidence. Our initial discovery process is the most important part because it allows us to get to know and understand each other, and lay the foundation of our relationship. To make sure we understand your needs and goals, we ask that you complete our Confidential Client Profile Questionnaire, as well as our Risk Tolerance Questionnaire, prior to the initial meeting. Together, these questionnaires and our time together help us draw a more complete financial picture and give us insight into which paths may be best for you. After that, we perform additional research, ask follow up questions, and thoughtfully build your personalized plan. Once we confirm that your plan is aligned with your future, we focus on maintaining and monitoring that plan by having periodic check-ins and meetings throughout the year, which are critical to monitoring your progress and working toward your goals.
We follow a proven Six Step Process, which helps us to create a plan that is specifically tailored to you.
- Basic Financial Plan for an Individual or Couple (early accumulator under age 40) = $3,700*
- Comprehensive Financial Plan (pre-retirement and retirement) = $5,400*
*These rates are our standard billing rates for a financial plan. However, all clients are different and have unique needs. As such, should additional analysis be needed or a specific item reviewed in more depth, additional fees may be charged. Any additional charges would be disclosed in advance of any engagement.
Hourly Rates for Additional Planning Matters and Professional Support
Often, we help our clients with more complex planning matters (such as divorce support, college planning, stock option planning, and pension analysis). We also assist clients with advanced tax and estate planning, and are often called upon to work and meet with our clients’ other advisors (CPAs, attorneys, etc.) to provide analysis or discuss best options for a specific situation.
- Debbie Taylor’s Hourly Fee = $350
- Support staff’s time is billed at a rate of $150-250 per hour, depending on the work performed:
- Data Gathering and Data Input – $150 per hour
- Research, Analysis, Plan Design, and Correspondence with clients and third parties – $250 per hour
Investment Management Fees
We typically accept clients with a minimum of $750,000 in investable assets. Clients that satisfy the investment minimum receive basic financial planning and our additional services. We do accept clients who don’t meet the investment minimum when it is family of an existing client, if the client is in the “accumulation phase” (they are under age 40 and contributing to employer-sponsored retirement plans, there is an expected liquidity event from an inheritance, employer incentive plan, etc.), or if the client retains us for additional planning services per the above fee schedule.
Our minimum fee on investable assets is typically 1.10%, but can range higher (or lower) depending on the complexity of your situation, account size, and services requested. All fees are clearly explained in all of our proposals and are mutually agreed upon prior to you becoming a client.
To find out more about the services we offer, please visit our website. If you have any questions about our fees, please email or call our office and we would be happy to discuss how we can handle your specific situation.
Additional fees and compensation may apply for the purchase of insurance policies, annuities, and 529 Plans via commissions paid by insurance companies and investment sponsors, which we will always disclose in advance.
Please keep in mind that all fees are subject to exceptions based on each client’s unique, and often complex, circumstances and goals.