Why choose a fee-only financial planner?
A fee-only financial planner is compensated solely by the client. We don’t receive any income from the sale or recommendation of financial products. Likewise, we do not accept any “soft dollars” or other incentives such as trips or gifts. As a result, you can be confident that we are working for you alone. We are qualified to make non-commissioned recommendations to skilled professionals with high integrity -- from life insurance agents to estate attorneys -- simply to ensure our clients get the best advice and service possible.
What is a Registered Investment Advisor (RIA)?
As an RIA, Private Wealth Consultants is registered with the Securities and Exchange Commission and is especially skilled at managing the assets of high-net-worth individuals and institutional investors. “High net worth” is usually defined as an investor with a net worth of $1 million or more. An RIA can create portfolios using individual stocks, bonds, and mutual funds.
What is a Certified Financial Planner® (CFP®)?
To become a Certified Financial Planner, advisors must complete training and pass comprehensive exams certifying them to advise clients in the areas of estate planning, risk management (insurance consulting), investments, retirement planning, income taxes and tax planning, and general financial planning. CFPs are also tested in the regulations that must be abided by to maintain the license. Once certified, CFPs are required to complete a minimum of 30 hours of continuing education (“CE”) every two years.
What is your fee structure?
At Private Wealth Consultants, our compensation is 100% transparent so you know exactly what we make and the value we provide. We generally charge an asset-based fee of 1% per year, computed on market value of the account, payable monthly in advance. For accounts over $25 million, fees are negotiable.