Straightforward pricing. No commissions.
Understanding the fees you pay is important.
At Covenant Wealth Advisors, we always serve our clients on a fee-only basis. This means we never receive commissions or third party payments. We are paid the same, regardless of the products we offer.
As fee-only financial planners, we are different than other types of financial advisors. For example, fee-based financial advisors may charge fees, but they also can receive commissions on the products they sell. We believe this is a major conflict of interest.
If you are seeking a financial advisor with reduced conflicts of interest, lower overall costs, and a compensation model that is aligned with your best interests, then we may be the right financial advisor for you.
How much do you charge?
Our typical starting point for new clients is to design a comprehensive financial plan. We typically charge $2,500 for individuals and $3,500 for couples. A financial plan provides personalized recommendations to help you get your finances in order. Depending upon your situation, your financial plan may cover retirement planning, cash flow projections, tax planning, insurance needs analysis, estate planning, college planning, debt analysis, and of course, investment planning.
For clients who want a customized financial plan and investment management, we typically charge an all-inclusive fee for our services. This fee covers the cost of managing your investments, financial planning services, and continuous advice and counsel. Our wealth management fee ranges between 0.40% to 1.00% depending on your investment portfolio size. Fees may be higher for clients with less than $1 million under management with us.
For clients who want continuous advice without investment management, we typically charge a quarterly retainer fee. We'll serve as your Personal CFO providing advice on all things financial, but you implement recommendations on your own. Quarterly retainer fees can range between $2,500 to $10,000 per quarter depending upon your personal situation.
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