Wesling Financial offers you peace of mind by placing your interests first and using tools and analyses covering the spectrum of best practices to fully support your goals and interests.
Wesling Financial offers comprehensive financial advisory services based on the LIFE financial planning and advisory services approach, investment management supporting the comprehensive financial advisory services, and divorce financial analysis. Wesling Financial Planning Services is a retainer-based, fee-only financial planning and services firm.
What Fees does Wesling Financial Charge Clients?
Wesling Financial Planning Services is a retainer-based, fee-only financial planning and services firm. This approach is the future of financial advisory firms, such as Wesling Financial. People who are looking for unbiased advice will be looking for firms who are fiduciaries with the tools and processes to demonstrate their fiduciary roles and capabilities.
This means you pay a flat, annual fee for financial advisory services and pay other product and service providers (tax accountant, insurance agent, estate attorney, and others) as needed. This does not mean that you will be managing these product providers by yourself.
As an example, let's examine your relationship with your estate attorney. Whenever you have appointments with your estate attorney, a representative from Wesling Financial will be there with you to advise you on the recommendations made by the estate attorney. This same systematic approach is used for your other product and service providers such as insurance agents, mortgage lenders, tax preparers, and others.
For each full year of services, the basic retainer at Wesling Financial covers:
- Comprehensive financial advisory services for all of your questions and concerns in one flat fee,
- Development and maintenance of your comprehensive financial plan,
- Attendance at meetings with you and other service providers as needed,
- Quarterly reviews, and
- Annual updates and performance reviews.
For clients wishing to have Wesling Financial manage their investments, Wesling Financial provides:
- A comprehensive Investment Policy Statement (IPS) detailing
- the responsibilities of the custodian, the client and Wesling Financial,
- the asset allocation,
- the expected rates of return, including a 95% worst case,
- the investment selection criteria,
- rebalancing frequency and criteria, and
- the cost monitoring activities.
- Investment selection and implementation in accordance with the IPS
- Account rebalancing
- Performance reports detailing time-weighted performance and
- Fiduciary ranking as determined by the Center for Fiduciary Studies
As we mentioned earlier, the amount of the fee is based on the complexity of the engagement. The fee is negotiated to reflect complexity as a factor of net worth. Since we are holistic planners, you are able to task us in every aspect of your financial life.
topDiscount for Active Team Participation
Whenever a specialist such as the estate attorney or insurance agent attends a quarterly review, for the following quarter, Wesling Financial will discount your quarterly fee by 10%. Our goal is to show you through action just how important it is to have a coordinated and thorough review of your financial plan and its implementation.
topQuarterly Invoicing
Engagements are structured so as to commence on the date you execute the Engagement Agreement. You will be billed from the date of the signing of the Engagement Agreement. The first quarterly payment is due upon signing the Engagement Agreement.
The quarterly fee amount is due every 13 weeks after the engagement is signed. Fees may be remitted by check, or by deduction from your assets, if Wesling Financial is managing them.
If you ever decided to terminate the retainer prior to the end of a quarter, the quarterly fee will be refunded on a pro rata basis. Engagements are automatically renewed annually on the anniversary date at the same rate as the previous year.
topCost Comparison
Wesling Financial's fees are often much less than you would pay at a "full-service" broker. However, with us, you will truly understand the meaning of full-service. You will have a documented and monitored financial plan driven by your comprehensive financial interests, goals and purpose. You will receive comprehensive financial advisory services, and whenever a specialist is required, that specialist is brought on board to service your needs.
topTypical Brokerage Fee Arrangement
Compare Wesling Financial's fees to those of a full service broker handling $600,000.00 of client assets. Under a typical full-service arrangement, clients are billed 1.5% annually for the first $500,000 of assets and 1% for the next $500,000, for a total annual cost of $8,500. Their fee does not include a financial plan, planned and proactive engagements with service providers, and covers only minimal ongoing portfolio monitoring. Should you request a full financial plan, you will be charged an additional $2,500 for an analysis that does not include tax planning. Estate planning services are simply not available to clients with net worths under $3 million. Generally, these services are provided for additional fees and only for qualifying clients.
Their clients can receive as few as 10 hours (and likely fewer) of service per year. For further consideration, a full-service advisor with 500 clients simply cannot spend more than 4 hours per year with each of their clients. Most importantly, full-service brokers make no fiduciary pledge to their clients. You deserve more, and we deliver it.
topHow We're Different (and Better!)
| Fiduciary “On Your Side” | Truly Compre hensive |
“With You” Implemen- tation |
Invest- ments |
Retire- ment |
Estate | Taxes | Insur- ance |
College/ Major Purchase |
|
| NAPFA Regist- ered Advisor | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Certified Financial Planner™ | ? | ? | ? | Maybe | Yes | Maybe | ? | Maybe | Yes |
| Estate Attorney | ? | X | X | X | X | Yes | X | X | X |
| CPA | ? | X | X | ? | ? | X | Yes | X | ? |
| Insurance Agent | X | X | X | ? | ? | ? | X | Yes | ? |
| Stock- broker | X | X | X | Yes | ? | X | X | ? | ? |