Enter the total investable assets that you hope for us to manage into our calculator to receive an estimate of your annual and quarterly fees for wealth planning.
Annual Advisor Fee
Billed as a quarterly fee
Estimated Advisor Value
|Study Quantifying Advisor Value||Quantified Advisor Value||Estimated Value of a Planner After 1 year||Estimated Value of a Planner After 3 years||Estimated Value of a Planner After 10 years|
|Envestnet Capital Sigma||2.93% Annually||$0.00||$0.00||$0.00|
|Morningstar Gamma||1.59% Annually||$0.00||$0.00||$0.00|
|Russell Value of an Advisor||4.83% Annually||$0.00||$0.00||$0.00|
|Vanguard Advisor Alpha||3.00% Annually||$0.00||$0.00||$0.00|
|Vanguard Human Alpha||5.00% Annually||$0.00||$0.00||$0.00|
Progress Wealth Management’s Pricing
We believe that Financial Planners should have straightforward, reasonable, and competitive pricing.
We take pride in the fact that we’re non-commissioned, fiduciaries that have a legal and ethical obligation to always prioritize our client’s best interests, first.
Investment Management + Financial Planning
The cost of hiring Progress Wealth Management to help you invest your savings and plan for the future.
- Our Investment Management Starts at 1% and has a max fee of 15k per year.
- This includes everything you could possibly need to make reaching your financial goals simpler, easier, and more digestible.
- We’re strong proponents of the idea that investing should be boring, empirical, and conservative so if you’re looking for someone who’s going to try and tell the future, you’re not at the right place (no one ever has done this well and no one ever will).
One-Time Financial Plans
The cost of hiring Progress Wealth Management to create a one-time financial plan for you
Our pricing for one-time plans ranges from $3,000 – $5,000 based on the complexity of your circumstances and the amount of work we believe is required.
We charge after the plan is completed and won’t charge at all if you’re unhappy with the work we’ve done so there’s no risk to you.
In addition, we’ll help you implement the proposed recommendations and you’ll get access to our planning software for the next 12 months following.
Pro-Bono Financial Planning For People Experiencing Poverty
We know that working with a financial planner is expensive and, although our sacrifices to reach our level of expertise make the price worth it… we also know that not everyone can afford to spend $3,000 on hiring a professional.
We don’t ever want the price to get in the way of you getting the help you need.
If you’re having a hard-time affording life, schedule an appointment with us and we’ll provide you with complimentary advice at no cost. We believe that society is better off working together.
Expect us to give you step-by-step advice on how to improve your annual earning ability, budget, debt, and tax plan.
If you refuse to take our advice, expect us to terminate the relationship.
Learn more about what it means to be fee-only, here.
Common Questions About Our Pricing
“My friend doesn’t pay any fees for their advisor to help them manage their money. Why do you charge?”
Skilled financial advisors have dedicated oftentimes literally decades into their profession and not charging wouldn’t make sense. We have bills to pay, as well and our services are never free unless you’re in poverty and we volunteer to help you for free.
Your friend is absolutely paying fees but their financial advisor is unfortunately not a fiduciary (communicating how you’re paid is a requirement of being a fiduciary), so they’re likely not forthright about how they’re being compensated.
Commissioned financial advisors are paid by the mutual fund and insurance companies to sell substantially overpriced and oftentimes suboptimal products. Watch the video below to learn more.
I’d recommend your friend ask specifically how much in fees they paid in the prior 12 months, total (including expenses ratios). It’s highly likely your friend is paying well over 1.5% with no maximum fee and were recommended likely underperforming mutual funds in addition to potentially overpriced insurance premiums and they just don’t know it.
Lastly, because all of our clients have annual items they need to work on, the fees you pay us aren’t just to manage your investments but work with you throughout the year. The fees you pay are ongoing because our work together is ongoing (your plan will change as your life changes). This typically means at least 20 hours per year of work from us (likely more)
If you’re charged a one-time commission, what incentive does your advisor have to continue working with you? You’ve already been sold. Their work is done unless they see an opportunity to sell you something new.
“What if I’m unhappy with your services? Can I get my money back?”
We can’t control markets so we don’t refund any losses due to the stock market underperforming your expectations.
If you’re unhappy for whatever reason with the financial planning and financial advice we’ve delivered, we’re happy to refund the fees you paid in the prior quarter as you terminate the relationship.
We guarantee your satisfaction with our services at every step of the way and seek to make your financial goals as easy to reach as we can make them.
“Do you charge your fees from my portfolio or from me directly?”
Investment management fees normally come from your portfolio, however, if you’d like to pay them out of your bank account, we can accommodate this.
The fee we charge for one-time financial plans is sent as an invoice to you. You can use a credit card, debit, bank account, and routing or a check.