This is our core service for clients. We begin with a three-month on-boarding process, and then we partner with you to implement your customized financial life plan.
For REALTORS® and self-employed clients, comprehensive planning includes reviews of your tax return and business income, expenses, and tax deductions, thus ensuring that you are running your business efficiently.
After the onboarding process is complete, each client will receive a customized annual service calendar tailored to their unique financial planning needs. Here is an example.
Annual comprehensive financial life planning fees range from $6,000-$15,000 per year for most families. Fees are calculated per household based on household net worth rounded down to the nearest $100,000. Net worth is calculated as follows: Assets – Liabilities = Net Worth.
Ongoing Financial Planning includes investment management and a customized Client Service Calendar. Fee schedule is determined by household Net Worth, rounded down to the nearest $100,000. For example, a client with Net Worth of $595,000 will be rounded down to the the $6,000 annual advisory fee level. We do not have a minimum investment account size.
Annual Advisory Fee
$0 – $500,000
$500,001 – $1,000,000
$1,000,001 – $1,500,000
$1,500,001 – $2,000,000
0.60% x Net Worth
Net worth is defined as the sum of the following assets: Cash & Cash Equivalents, all investment accounts, cash surrender value of life insurance/annuities, raw land and direct rental properties, less associated liabilities such as mortgages and revolving credit card balances.
For purposes of determining a client’s Net Worth, REWP includes the client’s main residence and any debts associated with the main residence. Privately-held investments (i.e. businesses, real estate, etc.) are included if the client seeks advice that takes those assets into consideration. REWP will rely on its Clients’ estimates of the value of their private assets.
Net Worth values are reassessed annually on each client’s contract anniversary date. Fees are determined annually, but there is no contract for Ongoing Financial Planning. Additional details are located in our form ADV.