What is the difference between Wealth Management and Family Office?

Wealth Management is a comprehensive engagement combining financial planning and investment management. Some clients have more complex situations, require more complex planning, and have more assets to manage. When appropriate we provide administrative support such as bookkeeping, bill payment, and travel booking.

Do you receive compensation from any of the products you recommend?

Our only compensation is from our clients. We accept no compensation or incentives from any of the service providers we use on your behalf. We often negotiate vendor discounts, which we then pass along to our clients.

How are you regulated?

The firm is a registered investment advisor, meaning we are registered with the U.S. Securities and Exchange Commission (SEC) and must abide by the regulations and rules of that Commission. We are also subject to audits conducted by the SEC.

How do you protect personal information?

We understand that our clients entrust us with not only their investments but their personal information. We take industry-standard steps to ensure the safety of our data and networks. These steps include:

  • Hardware firewalls
  • Enterprise-wide anti-virus software
  • Redundant backups
  • Vigorously enforced policies and procedures

What are your minimums?

Our relationship minimums are $1 million of investable assets or an equivalent fee.

What are your fees?

Our fees vary, depending on the type of engagement - family office or wealth management.

Family Office
The fee is standardized and based on the following factors:

  • Investable assets
  • Complexity of the relationship
  • Number of households served
  • Services provided

These fees are bundled into an annual retainer, which is billed quarterly and reviewed every two years.

Wealth Management
For traditional wealth management engagements, the fee is calculated based on your investable assets under management (AUM) and the following schedule. Fees are billed quarterly in arrears.

  • First $2,000,000 1.00% of assets or a minimum of $10,000
  • $2,000,001 - $5,000,000 0.75% of assets
  • $5,000,001 - $10,000,000 0.50% of assets
  • $10,000,001 and above 0.25% of assets

What are the benefits of a retainer fee?

We want our compensation to be completely transparent and free of conflict. We feel that a retainer-based arrangement meets those requirements best. It allows us to recommend solutions (Roth conversions, life insurance, debt reduction, etc.) that actually decrease your investable assets without regard to our compensation. It also provides our firm with revenue visibility and the client with predictable expenses. In most cases, this provides a financial benefit to the client.