Have you ever thought about how your advisor is paid? Do you wonder if they are looking out of your best interest, or their wallet? Today it has become common practice for many independent investment firms to tout “Fee-Only” as a way to say “The only compensation I receive comes from my clients”. While distinguishable, how, or why, did it become “the norm” for advisors not to disclose conflicts of interest and how they were compensated? Why did it take the Department of Labor to issue a ruling stating advisors should act in their client’s best interest? When has a client ever said “Feel free to put your interests above my own?”
At Horizon Ridge Wealth Management we believe putting your interests above our own will ALWAYS be our first priority and it starts with Transparency. The clients who work with our firm receive full disclosure on how we operate and understand that during our meetings we build strategies that can be implemented and monitored by you or through the team at Horizon Ridge Wealth Management. When you hire us we want you to know we are compensated in one, or all, of these four ways:
- Hourly Planning based on projects focused in three areas:
- Employee Benefit Planning
- Special Needs Planning
- Senior Care Planning
- Flat Fee Comprehensive Financial Planning.
- A percentage fee based on the assets we directly manage for you.
- Commissions from other Investments and/or Insurance products
- Minimum Asset Management Relationship $500,000
- Asset Management Fees:
- 0.75% $0 - $5,000,000
- 0.60% $5,000,001 - $10,000,000
- 0.50% $10,000,001+
* Up to an additional 0.50% may be added to the base percentage for some investment strategies. All fees will be disclosed ahead of any engagement.
** Asset management fees will be incurred for the duration of the asset management relationship.
- Financial Planning is billed at $300 per hour
- Divorce Planning is billed at $300 per hour
- Senior Care planning is billed at $250 per hour
- Special Needs planning is billed at $200 per hour
- Employee Benefits
- Executive Benefits Plan is a flat fee of $2500
- Middle Management Plan is a flat fee of $1000
Alternative Investments include, but are not limited to:
- Real Estate
- Structured Products
Insurance Placement to include, but not limited to,:
- Life Insurance
- Long Term Care Insurance
- Disability Insurance
* Due to the complexity of Alternative Investments issuers of such investments are capable of paying a commission to an advisor. It is important to note, not all Alternative Investments pay up-front commissions.
** Additionally, when placing insurance with a carrier the insurance agent of record can receive a commission from the issuer. It is important to note, not all insurance products pay up-front commissions