It would be an honor to join you on your financial journey.
Give someone a fish and feed them for a day…teach someone to fish and feed them for a lifetime. It all begins with a team approach. Allow me the opportunity to team up with you and you’ll gain an understanding that will propel you to make confident financial decisions as you navigate through life.
How much do people usually pay for financial advice?
$3,000 - Financial Planning Fee (Individuals)
$10,000 - Financial Planning Fee (Businesses)
+
1% - 2% Ongoing Assets Under Management AUM Fee (‘wrap-fee’)
If no percentage of AUM fee is charged there will likely be a one-time front-load sales charge ranging from 2.5% to 5.75% (depending on the size of your investment) for the purchase of Class-A share funds.
+
…all of that PLUS you will still be paying additional Operating Expense Ratio Fees for some of the holdings within your portfolio (which can range from 0.58% up to over 1.15% depending on the Share Class).
(There may be a chance your advisor recommended an annuity product - which may or may not have been the best fit depending on your age & situation. In this scenario it is possible your fee could have been between a 3% to over 5% front load depending on the insurance company chosen to implement the recommendation. Alternatively, a back-load annuity or C-shares may have been recommended…depending on your account structure…which carry higher costs than Class A-shares.)
…I know this to be true because I used to be a Financial Advisor for a Fortune 200 company & this was how I made a living. I am now an educator and advocate for individuals & investors to understand how your financial decisions & these fees may impact your overall financial plan.
On a Hypothetical $100,000 Qualified Retirement Account example this could be…
Brokerage Account (A-Shares): $4,080 in fees YEAR #1 ($9,300 in total fees after 10 years).
AUM ‘wrap-fee’ of 1.50%: $2,080 in fees YEAR #1 ($20,800 in total fees after 10 years).
….plus the financial planning fee of $3,000.
Working in a fee-only capacity could quite literally save you thousands of dollars…even more compounded over your investing lifetime.
Have a quick & easy question?
Schedule a
FINANCIAL COACHING CALL with me…
https://bit.ly/KSchollCoaching
($2.50/minute - minimum 15 minute call.)
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$150 monthly financial coaching
(Charged $150 per month for 12 months - cancel at any time)
60 minute monthly deep-dive financial planning discussions (video conference recorded).
Investor Profile - reviewed after initial discussion or whenever this interests you.
Focus of our conversations will be catered to wherever YOU are at in your financial journey. We intentionally discuss the financial topics you may be too timid to discuss otherwise. Savings tips, budget discussions, investment strategy, capital allocation, cash flows, marriage & money, kids & money, and I hold you accountable for your savings goals.
It is my intention that after a year of discussions you will have developed an understanding for proper money management ranging from: tax deduction education, budgeting, paying off debt, appropriate credit card / credit score usage, saving for your retirement, real estate decisions, mortgage decisions, to family planning & many things in between. As a result of your newly acquired financial education, it is my belief that you will have knowledge, tools, and the knowledge of how to use those financial tools to your advantage.
