A financial plan is designed to help the client with all aspects of financial planning without ongoing investment management. The financial plan may include, but is not limited to:
- A net worth statement
- Cash flow statement
- Strategic tax planning
- Social Security timing
- Mortgage analysis and repayment recommendations
- Analysis of personal and professional liability exposure
Review and recommendations on current:
- investment accounts
- retirement plans
- insurance policies (life, health, long term care)
- Multiple retirement scenarios
- Estate planning review
- Education planning with funding recommendations
Detailed investment advice and specific recommendations may be offered as part of a financial plan. Implementation of the recommendations is at the discretion of the client. The cash flow planning process is priced at a flat fee of $1,250 due prior to the "Step 1: Current Financial Picture" meeting. This is typically a three-meeting process but can be more if circumstances permit.
In the event that the client’s financial planning needs are substantially different than understood at the initial meeting(s), more time than originally estimated may be needed to complete the planning process. For example, some clients may wish to evaluate a variety of future scenarios and thus may require more planning time and cost. If the client elects to implement security recommendations made by Right Brain Money, they may incur custodian and/or mutual fund expenses. Right Brain Money receives no portion of these fees.
Investment Management Services
Our management fee is 1% annually (0.25% debited quarterly) and does not include third party fees (e.g. custodial account fees, third party manager fees, mutual fund expenses).
Clients that elect to have Right Brain Money manage investments do not pay hourly fees for investment advice related to the money managed by us. Advisory services may be available from other firms for a lower cost. We calculate the fee on the sum of one account or multiple accounts we manage for you. All fees are payable in advance on a quarterly basis. The initial fee will be based on the value of assets at the inception of the client’s program account(s). Thereafter, it will occur quarterly based upon the value of the client's account at the last business day of the preceding calendar quarter. Should the initial or a subsequent contribution of assets take place during a quarter, the fee for such contribution will be prorated for the remainder of the quarter and due within a reasonable period upon request. Partial withdrawal of assets during a quarter by a client will not result in a refund of previously paid advisory fees for that quarter.
Fees will be deducted directly from the client’s account upon authorization granted by the client to Right Brain Money in the advisory agreement. Clients may terminate participation at any time by sending a written notice to us. Upon termination of the account, any unearned fee will be refunded to the client on a prorated basis.
Third-Party Management Programs
In order to integrate with some of our favorite money managers in the country for a reasonable cost and lower asset minimums, Right Brain Money will often establish Unified Managed Accounts at Schwab using Adhesion and/or Envestnet. We have evaluated, and will continue to evaluate, hundreds of leading investment strategies and tactical allocation models. Additionally, we may recommend using Envestnet for improved asset based pricing and discounted performance reporting.
From that data, we make recommendations of what approach or combination of approaches we believe is best for the individual client. The client will be charged an advisory fee that will be in accordance with the third-party manager’s fee schedule, plus an additional fee which will be paid to Right Brain Money for advisory services. Fees for such third-party managers vary by strategy and are non-negotiable. The third-party manager is responsible for billing clients and may provide us with our portion of the aggregate fees (1% annually) for the program. For additional information concerning fees, please review program literature customized for your specific investment strategy.
Other Types of Fees and Expenses
Any transactional or service fees (sometimes termed brokerage fees) assessed by a selected service provider (i.e. custodian), IRA fees, qualified retirement plan fees, and/or account termination fees will be borne by the accountholder. We will ensure that current, separate fee schedules of any selected service provider are issued at the beginning of engagement. If provider fees change once agreement has commenced, they are required to notify you in writing.