WE BELIEVE THAT TRANSPARENT FEES ARE IMPORTANT—HERE’S WHY
You work hard for your money, so you should know how you’re spending it.
At Olison & Company, we understand that, which is why offering great solutions, providing superior service, and communicating our fees up front are the most important things we do for you. We provide a comprehensive list of services, plenty of choices, and a clear fee structure that’s easy to understand so that you can choose what works best for you.
Our fees explained in common language
Getting Started with our One-Hour Initial Consultation
$300
Our one-hour consultation fee covers your initial in-person meeting, as well as the work that occurs prior to (and after) your first meeting. We start our process by simply listening, as we review your financial situation and discuss whatever is on your mind. The meeting also gives us an opportunity to get to know each other and decide if the relationship is a good fit. Afterwards, we create a personal proposal that describes the services that you would benefit from and the associated fees. In essence, we suggest the specific areas where we can help make a difference in your life.
How do you Determine Fees?
There are two types of fee structures we use: a fee based on assets under management (AUM), or an hourly rate. All fees will be fully disclosed in advance and will be based specifically on your needs and the services we will provide. At times we will propose a “hybrid” arrangement, which could include the AUM fee and an hourly fee, depending on the investable assets and the services requested (such as in-depth pension analysis or Healthcare consulting).
The minimum investments for an AUM-only fee is $1.5M. Our minimum fee on investable assets is typically 1.1% of your balance. The fee can range depending on the complexity of your situation, account size, and services requested. The fee will typically include a financial plan and a wide range of investment services.
If assets are below $1.5M we charge a hybrid fee: starting from 1.65% for investment management, and planning fees at $300-$450 per hour. Typically, planning fees amount to about $5,000 per plan, but can be higher. All fees are clearly explained in all of our proposals and are mutually agreed upon prior to you becoming a client.
Our hourly planning rates give us the ability to help you with more complex planning matters (such as college planning, stock option planning, and pension analysis), as well as with advanced tax and estate planning. We are also often called upon to work and meet with our clients’ other advisors (CPAs, attorneys, etc.) to provide analysis or discuss best options for a specific situation.
We accept financial planning only engagements (that include no investment management) on a very limited basis, and the minimum retainer is $5,000. Beyond the initial plan, we bill hourly at the above rates if there are additional complexities. In special circumstances, a custom fee and service arrangement is created based on the client’s needs.
What is a Financial Plan and Why Do I Need One?
Building a Financial Plan is like Creating a Roadmap—and Everyone Should Have One
We believe that every client needs a financial plan to serve as a map that will help you live life to the fullest with financial confidence. We follow a proven Six-Step Process to create a financial plan that is specifically tailored to you and your goals.
Our initial discovery process, which allows us to learn all about you, is the first and most important step. To make sure we understand your needs and goals, we ask you to complete some “prework” (our Wealth Match Organizer and our Risk Tolerance Questionnaire) before our initial in-person meeting. These questionnaires and our time together help us draw a more complete financial picture and give us insight into which paths may be best for you. We then perform additional research, ask follow-up questions, and thoughtfully create the initial draft of your personalized plan.
Your plan could address such diverse topics as college planning, retirement funding and planning, creating a legacy, and debt reduction or retirement tax planning, just to name a few. We consider ourselves Retirement Income Tax Professionals, and work with all clients extensively in this area.
Once we confirm that your plan is aligned with your goals, we begin executing on the plan, which looks different for every individual. We schedule periodic check-ins with you throughout the year to ensure we are successfully monitoring your progress and working toward your goals.
No matter what your situation or need, rest assured that we have the services and options to help you pursue your goals and take control of your future.
To find out more about the services we offer, please browse our website. If you have any questions, please email or call our office and we would be happy to discuss how we can handle your specific situation.
At times, we may recommend the purchase of insurance policies, annuities, and 529 Plans. In these instances, we are paid via commissions by insurance companies and investment sponsors, which we will disclose in advance.
Please keep in mind that all fees are subject to adjustment based on each client’s unique circumstances and goals.
Packages and benefits stated herein apply to new clients. Due to the ongoing nature of work for existing clients, they should call to discuss.
