Fee Arrangements
A fee-based advisor can provide investment advice
and services without the need to generate a transaction in order to receive compensation. We are aware that many investors, who may really need help, are reluctant to see an advisor because they fear that they will get pressured to sell or buy just to generate a commission.
At BennCo Advisors
we believe that the client is best served when a variety of compensation choices are available. Those choices are hourly fees, asset-based compensation, and commission.
We never charge fees for an initial consultation. That first meeting is really to determine if our services fit your needs and what the appropriate course of action should be. At that meeting we can usually offer an outline of services, and an estimate of the cost. We always make a point to engage in an open and candid discussion of advisor compensation and investment expenses. You will know in advance what your approximate costs will be.
We charge fees for consulting and planning on an hourly basis. Based on the agreed scope of work we may produce a plan document including a set of investment recommendations. The client is under no obligation to implement those recommendations through the Advisor’s broker dealer relationship.
Asset management fees are based on a percentage of assets. The percentage is variable based on the size of the portfolio. In most cases, the fees are deducted from the portfolio on a quarterly basis. In others, the client in invoiced separately.
In some cases, commission-based compensation may still be the most appropriate. Today’s financial services industry makes available a variety of commission options that can be tailored to fit the client’s immediate, and ongoing investment service needs. We believe it is important to analyze and discuss the pros and cons of these alternatives to fit the model that works best for the client.
At BennCo Advisors our goal is to have “clients for life.” We believe in long term relationships based on trust and open communication, and that should include a dialogue about fees.
Please, review the Client Relationship Summery and learn more about the details and inner workings of the client advisor relationship.
Securities and Advisory services offered through appropriately registered representatives of
The Strategic Financial Alliance, Inc. (SFA), member
FINRA/SIPC. Certain advisory services offered through Bennett & Co. Advisors, Inc., DBA BennCo Advisors, which is otherwise unaffiliated with
SFA.
SFA
and BennCo Advisors do not offer tax or legal advice.