How We Charge

Fiduciary Duty

We are a fiduciary firm, so we have no conflicts of interest in regards to third-party compensation. As an RIA (Registered Investment Advisor) we have a legal obligation to act in your best interest. This means that we are paid for our expertise and advice, not to promote products. Before we begin our work with you, we always disclose our fees in writing.

Please click here to read our SEC ADV form.

Investment Management Services

Our investment management services include financial planning, portfolio strategy, in-person reviews, continual monitoring and strategic re-balancing of your portfolio as well as guidance on all other financial matters of concern to you. 

We charge a tiered fixed fee calculated as a percentage of assets under our management, generally 0.95% or lower, depending on the amount under management, billed quarterly in arrears. It is 0.95% for accounts over $1 million, 0.75% for accounts over $5 million and 0.50% for accounts over $10 million. Our minimum account size for new clients is $500,000.

Who Holds Your Assets

Your assets that we manage for you are held by an independent custodian (typically Fidelity) in your name. We have no ability to draw upon any client funds held by the custodian, other than to deduct our advisory fees as per our written client agreement. We are not affiliated with the custodian.

Access To Your Accounts

You are able to see your accounts in four different ways:

1 Online access through our Financial Planning App 
2 Direct, online access to the custodian's website
3 Via monthly account statements (paper or email) directly from the custodian
4 Email or paper statements provided by us.

Financial Planning Services

We provide separate financial planning services to clients whose assets we don't manage.

Our Financial Planning Fees

The initial fee for a comprehensive plan ranges from $5,000 to $8,000, depending on the complexity of your financial affairs. For follow up meetings and advice we charge our hourly rate of $200.

After a Discovery Meeting we provide a written fee estimate, based upon the scope of services that we propose to provide to you. Before we can start working with you, we require a 50% upfront deposit of the initial planning fee. The remaining 50% is due when the plan is presented to you.

The Financial Plan Will Include:

- How to manage your resources so you can fund multiple goals, from college funding to retirement saving and investing.
- Planning for spending in retirement when not earning an income: how to structure your investment portfolio so you can fund your lifestyle without taking more risk than necessary to attain your goals. We calculate a sustainable withdrawal schedule from your portfolio and advise you on maximizing your social security benefits.
- How to position your portfolios to maximize tax efficiencies.
- Creating cash flow models offering strategies for debt reduction, savings and income.
- Estate planning, to ensure that you are able to provide for the financial health and well-being of your family and make it easier for them to sort out your affairs after you're gone, as well as to reduce amounts subject to federal estate taxes.
- Recommendations for an overall portfolio strategy outlined by asset class, such as stocks and bonds, large cap and small, value and growth styles, domestic and international. 

As a client of Heron Wealth you have 24/7 access to our Financial Planning App