Pricing Structure
As a fee-only financial and investment planning firm, we are fully committed to fee transparency. Whether you’re seeking an ongoing financial planning and investment management relationship, or advice and planning by the hour, or just need some answers and advice on a single issue, our flexible fee models are designed to accommodate your situation
Ongoing Wealth Management Relationship
Starts at $1,250 / quarter
- Your personal family Family Financial Officer (FFO)
- Growing or securing and managing your wealth
- Our full-time clients get our foremost attention
- Great for those who are ready to live life and delegate some responsibility
- No minimum assets required
Time Based Services (Hourly Model)
$270 / hr
- Planning and advice customized for your needs and complexity
- Great for those who still like to “do it themselves” but need some help
- Engage us when you need us
- No minimum assets required
Limited Scope/ Single Issue Advice
$750 / session
- Limited to only one or two issues
- Appropriate for those only needing limited, issue-specific advice
- Second Opinions
- This is the minimum engagement ColeFP offers
FAQs
Do you have Asset Minimums and Which service should I choose?
No. We do not impose asset minimums to work with us. Our goal is to make professional financial planning and investment advice as accessible to as many people as possible without selling any products.
Every situation is different but generally speaking, those who are just getting started and building wealth or those who enjoy “doing it themselves” are best served through our time based/ hourly model.
As wealth grows, there are often more moving parts, more complexity, more decisions. When investment assets begin to exceed $500,000, the need to manage those assets both for protections and growth become more and more important. For those people, our ongoing wealth management relationship may be a better fit.
If your only needs pertain to a single issue or you wish to have an objective second opinion on a major financial decision, then we suggest you use our Single Issue/Limited Scope offering. This offering is our minimum engagement.
Can you show me an example of how your Ongoing Wealth Management Fee works?
Sure! To help you visualize our fees, see the two examples below. Note that the wealth management includes financial planning. We don’t add on additional fee for financial planning. So our fees are 1% or less AND include financial planning. We don’t add on extra layers of fees for financial planning! Wealth Management is inclusive of investments and financial planning.
| % | Tier |
|---|---|
| 1.00 | On the first $1,000,000 |
| 0.60 | On the next $2,000,000 |
| 0.40 | On amounts over $3,000,000 |
Example One: Client with $750,000 in supervised assets.
| % | Tier | Resulting Fee |
|---|---|---|
| 1.00 | On the first $1,000,000 |
$7,500 |
| Annual Fee | $7,500 or 1% of supervised assets (¼ billed quarterly) |
Example Two: Client with $2,000,000 in supervised assets.
| % | Tier | Resulting Fee |
|---|---|---|
| 1.00 | On the first $1,000,000 |
$10,000 |
| 0.60 | On the next $2,000,000 |
$6,000 |
| Annual Fee | $16,000 or 0.80% of supervised assets (¼ billed quarterly) |
How much should I expect to pay if we engage in the on-demand (hourly) services?
Financial planning fees for time based projects are based on our current hourly rate of $270. The total cost depends on the complexity of your case and each plan is unique to its own circumstance. We have more than 20 years of combined experience in quoting hourly fees and we have found these fees typically fall within $2,000 and $8,000. Just as with our wealth management services, we will work with anyone, regardless of assets, net worth, or income as long as they have the ability to pay our hourly rate and are a fit for the type of work we do. We will provide you a quote for service before you sign an agreement so you will know the costs before you commit.
IS Single Issue management enough for my family?
Probably not. This is our minimum engagement. They are used when a professional is needed to provide advice on a single issue or two. This engagement is not intended or designed to replace the benefit of more comprehensive financial planning and wealth management.
Examples of limited scope projects are:
A debt reduction plan
Mortgage and ReFinancing Plan
Second Opinions on Financial Products
Employee Benefit Maximization Plan
“Getting Started” session for people just starting out
Ready to Get Started?
All fees are negotiable or subject to change upon proper disclosure by Cole Financial Planning and Wealth Management, Inc.
Cole Financial Planning and Wealth Management, Inc. is a Registered Investment Advisor in the State of Alabama.
