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Understanding Our Services...
We offer a variety of Wealth Management services. Each one is designed to most effectively meet a client's needs at a certain stage in their life. If you'd like to learn more about a specific service, click on the link below.
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Our competition typically saves this discussion for the end of their "sales" process. We believe in total transparency, which is why we want to explain our fee structure and portfolio minimum targets up front! Beneath the listed services below you'll see a detailed explanation of how our fee structure works and why we have the minimum portfolio targets that we do. These are NOT hard minimums. We believe each set of client circumstances are unique. If you feel a service listed below is right for your family, but you don't meet the targeted minimum, contact us so we can discuss your situation further. We're here to get you the financial help you need!
Why we chose AUM...
We do not believe in the commission service model. Unfortunately we've seen advisors that use this model focus primarily on their volume of clients. This generally leads to a less than stellar client experience in our opinion. We also don't believe in the "one-time" engagement service model.
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When we accept a client into our practice it is with the intention of the client being a permanent member of Prosperity Wealth Management. We believe it is the responsibility of a good & ethical financial services practitioner to evolve with their client. The assets under management fee structure encourages both client family and advisor to "sit on the same side of the table". We both will benefit from the same thing - your portfolio increasing in value. We both experience the negative effects of a portfolio that suffers losses. We believe that the advisor should be subject to the same market fluctuations that the client is.
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We have three (3) services that utilize the assets under management fee structure. They are listed below along with the projected annual fee in dollars for a $1,000 portfolio (assuming no movement throughout the year).
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1) Strategically Personalized Framework (SPF) - 1.00% annually
$1,000 x 1.00% = $10.00 annually
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2) Wealth Accumulation Target (WAT) - 0.65% annually
$1,000 x 0.65% = $6.50 annually
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3) Treasury Bond Ladder - 0.35% annually
$1,000 x 0.35% = $3.50 annually
Advisory fee structures explained...
The two most common forms of fee structures in the investment world are "commission" and "assets under management"(AUM).
Commission is a one time fee for a moment of service (see example below).
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AUM is the annual percentage of the assets being managed (see example below).
Commission Explanation
This fee is typically charged at the time of the purchase & generally doesn't include ongoing service.
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Prosperity Wealth Management DOES NOT use this type of fee structure.
AUM Explanation
This fee structure will typically be charged to the account quarterly (1/4th every quarter) or monthly (1/12th every month) depending on the advisor. This fee is inclusive of ongoing services. It is important to note that the percentage fee stays the same, but that dollar amount will fluctuate with your portfolio. If the portfolio goes up your dollar value fee with increase, same for if it goes down in value.
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Prosperity Wealth Management DOES use this type fee structure.
Commission
Example
$1,000 Portfolio
A common example of this is a "front-end load" mutual fund. The average load fee is 4.75%. This means an individual that purchased $1,000 into this fund would be charged an up front one time fee of $47.50.
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$1,000 x 4.75% = $47.50
Assets Under Management (AUM) Example
$1,000 Portfolio
An example of an AUM fee would be a portfolio manager that charges 1.25%. This fee is based on the value of the portfolio throughout the year. If the portfolio stayed at a constant $1,000 value, then the client would pay $12.50 in management fees for the year.
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$1,000 x 1.25% = $12.50
Strategically Personalized Framework (SPF) Overview
The Strategically Personalized Framework is our premiere offering. It's a specialized portfolio construction methodology that is focused on creating the most possible flexibility for clients approaching (within 10 years), or currently in retirement.
Key Features
AUM Fee: 1.00% (annually)
Min. Target: $750,000 (total portfolio value)
Required: Financial Plan (included in service)
Wealth Accumulation Target (WAT) Overview
The Wealth Accumulation Target service is designed for clients with more than ten years until retirement. This is a traditional asset allocation portfolio with a long term focus. It is designed to take advantage of market volatility through its quarterly rebalancing cycle.
Key Features
AUM Fee: 0.65% (annually)
Min. Target: $1,000 (account value)
Required: Financial Plan (included in service)
United States Treasury
Bond Ladder (TBL)
Overview
The United States Treasury Bond Ladder is a short term bond ladder designed for capital preservation & income support. The ladder is designed to have approximately 20%-25% of the account value coming available for withdrawal every 90 days. If the funds are not needed they are reinvested.
Key Features
AUM Fee: 0.35% (annually)
Min. Target: $50,000 (account value)
Required: Suitability Meeting
Wealth
Coaching
Service (WCS) Overview
PWM's Wealth Coaching Service is designed for self-directed and young professionals who are looking for financial guidance, education, and a personal resource. Our wealth coaching service is designed to assist clients with questions as they come up during the course of their lives. Things like understanding company retirement plans, 529 College Savings Accounts, preparations for a new baby, etc.
Key Features
Subscription Fee: $20mo. ($50mo. Family)
Account Management NOT Required
Discounted Financial Plan Cost: $125.00 (50%)
Free
Available OnlineWCS client's taking advantage of their 50% off on Financial Planning!
125 US dollars
Available OnlineFor when you're looking for a little help & NOT a relationship!
250 US dollars