Fees For Services
Fee Schedule & Relationship Minimum
We are a fee-only investment advisor. None of our employees may charge or accept commissions, referral fees, or transaction-based income from loads, sales charges, or markups. This aligns our interests with those of our clients.
Our standard annual fee schedule for Portfolio Management is as follows:
- 1.25% of assets on the first $100,000 under management;
1.00% on the next $400,000;
0.90% on the next $500,000;
0.75% on the next $2,000,000;
0.50% of assets in excess of the above.
Each month, fees are calculated, prorated, and charged in arrears based on the market value of managed assets on the last trading day of the month. For planning or consulting services outside the scope of a managed relationship we charge $200 per hour. We occasionally arrange individualized fee schedules for clients requiring either limited or expanded services. We also accept smaller accounts for the children of clients who meet our minimum relationship requirements. Either party may terminate the relationship at any time by written notice. Fees are prorated at the commencement or termination of a relationship, so clients are charged only for the period under actual management.
Our Portfolio Management minimum relationship size is $500,000 of assets under management. We occasionally make exceptions to this minimum. Charitable organizations may receive a discount from the standard fee arrangement. DWA accepts smaller accounts for clients and their family members when total assets under management meet the minimum account requirement or are expected to meet the minimum at some future time. Fees for such accounts will be charged in accordance with the standard fee schedule.
Financial Planning and Consulting Fees
Initial Financial Plan: $2000.
Includes two client meetings, review of client financial information, data entry, research as required, and the production and delivery of a written financial plan with recommendations.
Additional financial planning meetings: $1000.
In certain cases, the level of complexity and unique circumstances require additional research, data gathering, written follow up, and additional client meetings with an Advisor.
Annual financial plan review and update: $500.
Specialized Consulting Services: $200 per hour for an Advisor. $100 per hour for a Paraplanner.
Services include cost basis analysis, education planning, estate planning, and in limited cases portfolio consulting.
The Client is responsible for all actual “out of pocket” expenses incurred by the Advisor including overnight mailing costs. Should the client wish to retain the Advisor for discretionary investment management services, such engagement will be pursuant to a separate contract.
Financial planning fees may be discounted for clients who have retained DWA for portfolio management services.