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re: Rollover IRA
Posted on 6/12/14 at 3:05 pm to roguetiger15
Posted on 6/12/14 at 3:05 pm to roguetiger15
Slight spinoff, but can you give me some more info on the FA route?
Assets? Is that total assets, net assets, current brokerage account balances?
For example - let's assume:
100k in retirement account(s)
75k in brokerage account
75k equity in primary residence (300k home)
75k equity in rental property (150k property)
What are you calculating that 1.25-1.5% on?
Also, this may be dumb, but how often is this fee charged? Per consultation? Annually? One-time?
quote:
charge around 1.25 and 1.5 percent for 200k in assets
Assets? Is that total assets, net assets, current brokerage account balances?
For example - let's assume:
100k in retirement account(s)
75k in brokerage account
75k equity in primary residence (300k home)
75k equity in rental property (150k property)
What are you calculating that 1.25-1.5% on?
Also, this may be dumb, but how often is this fee charged? Per consultation? Annually? One-time?
2
Posted on 6/12/14 at 3:10 pm to kennypowers816
Each firm typically has a fee schedule of it's own but 1.25%-1.5% is a pretty typical rule of thumb. Those assets would be based on how much you have in house with that firm. I.E. you have 250k with the firm and 200k equity in home, the equity in the home don't count!
Each firm charges the fee differently, mine charges monthly and in arrears. Some charge quarterly and forward.
Each firm charges the fee differently, mine charges monthly and in arrears. Some charge quarterly and forward.
Posted on 6/12/14 at 3:13 pm to kennypowers816
It's an annual fee based on assets under the advisors management, that's held in a fee based account. So basically the dollar amount in all accounts held under that advisors or advisory team's number
Remember you can also have your assets in a commission based account as well if you want. Most clients and FA's are going to the fee based model
One good thing is the amount paid in fees can be in turn deducted on your taxes if it is not a retirement account.
We debit the account quarterly
Remember you can also have your assets in a commission based account as well if you want. Most clients and FA's are going to the fee based model
One good thing is the amount paid in fees can be in turn deducted on your taxes if it is not a retirement account.
We debit the account quarterly
This post was edited on 6/12/14 at 3:14 pm
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