Asset Management Fee Structure
Total Wealth Management uses a tiered fee schedule in serving our clients in asset management strategies. Minimum investment is $250,000.
$250,000-$999,999 1.40% per annum*
$1,000,000-$1,999,999 1.25% per annum
$2,000,000+ 1.00% per annum
Fees are not laddered, but are aggregated upon the entire balance.
For example, if a client makes an initial investment of $900,000, the asset management fees would be 1.4% per year, as described above. Over time, assume the account has grown to $1,400,000. Many firms would charge 1.4% on the first $1,000,000 and 1.25% on the $400,000 above that threshold. With TWM, your fees would be 1.25% on the entire amount instead of having a laddered fee structure. We believe this is fair and equitable to our clients.
For many clients, a written financial plan will be necessary to best identify all the areas that can be enhanced and/or better managed in a client's complete financial picture. This written plan is called a Asset Optimization Strategy and will accomplish its namesake.
The cost for the plan's creation and development is usually $500.00. A more complex case may have a higher development fee of $1,000.00, but this is rare. These fees are credited toward the annual management fees (described above) if the client wishes to utilize Total Wealth Management to implement the strategies outlined within the Asset Optimization Strategy. However, the client is free to implement the strategies with whomever they are most comfortable.
* Fees are assessed quarterly, on the balance of the account at the end of each quarter.
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