We offer a straightforward and transparent fee-only structure
Although all of our client relationships combine both financial planning and investment management, there are two main ways to work with us depending on your needs, goals, and your stage of life.
Wealth Management Model
As the classic fee-only relationship, the Wealth Management model is generally for those with a more established career who have been able to save more than $1,000,000. We work with you on an ongoing basis, with the proper asset mix determined after evaluating risk tolerance, life stage, and goals. The financial planning aspect of this relationship tends to focus on retirement and tax planning.
| ASSETS UNDER MANAGEMENT | ANNUAL FEE |
| First $1 million | 1.0% |
| Amounts between $1-2 million | 0.7% |
| Amounts between $2-4 million | 0.5% |
| Amounts above $4 million | 0.10% |
Accumulator Model
This model is best suited for young professionals that are actively saving but have not yet accumulated $1,000,000 in investable assets yet. They are typically in their 20s, 30s, and 40s. Because there is no minimum asset level for this service model, there is a separate annual financial planning fee that is often paid in quarterly installments.
| ASSETS UNDER MANAGEMENT | ANNUAL FEE |
| All portfolios | 1.0% + $1200 financial planning fee |
Financial planning is often more “modular” for these clients, as their focus is generally not on retirement as their main concern, but more immediate goals are their focus, such as paying off student loans, maximizing their employee benefits and saving for their children’s education. Over time, these clients will migrate over to the Wealth Management model as their asset levels increase.
Quantifying the Value of Financial Planning
Investment returns, while important, are only some of the value clients receive when they work with an Advisor through the Financial Planning process. Some values, such as the cost of investment choices, are easy to discern. Others, like tax planning, have an impact that can change from year to year, so they are more difficult on which to place a direct monetary value. Please click the download below to see a robust list of the value of advice.
Let the team at Summit Financial Partners help you reach your goals!
Financial plans are the most valuable when they are implemented properly, with investment decisions that are made for objective reasons based on sound, scientific research – not on emotions. For over twenty years, Summit Financial Partners has been helping individuals and families reach their financial goals and to enjoy the comfortable retirement lifestyle they dreamed of. From our initial meeting and throughout our ongoing relationship, we’ll maintain regular contact with you to ensure that we are helping you realize your dreams through appropriate asset allocation based on your risk, tolerance, time horizon, and financial goals. Our offices are located just outside of Richmond in Glen Allen. Let’s chat! We’d love to hop on the phone and get to know you. Click the button below to pick a date and time that works best for you!
