Q. Why should i hire an advisor?
- Because it can be difficult to determine your objectives and strategy on your own.
- Because advisors may have access to investments that the general public can't access.
- Because advisors can help you avoid making bad financial decisions.
- Because it saves you time and stress.
- Because life changes.
- Should we keep going?
Q. How much Does it cost?
Financial Planning ‒ One Time Engagements
Fixed fees commonly range from $1,200 to $4,000 for our initial Financial Planning advice, which is generally based on the amount of time required, including coordination with outside advisors in the analysis and design of your financial plan. Implementation of the recommendations will be at the discretion of the client.
Financial Planning ‒ Annual Financial Planning Engagements
The initial on-boarding fee ranges from $800 to $3,000, and is due in full upon executing our agreement. Once your plan is presented to you, we then assist you in its execution over the course of the year. The ongoing fee for this effort typically ranges from $100 to $400 per month. Both fees are determined by the complexity of your situation, the time committed to developing the plan, number of action items and investment accounts involved, etc. Our ongoing fee engagement is designed for those who are in need of a plan as well as ongoing assistance.
Comprehensive Financial Planning & Investment Management
The initial on-boarding fee ranges from $0 to $2,400 and is determined by the complexity of your situation, the time committed to developing the plan, number of action items, the total value of investible assets, number of accounts, and types of accounts, etc., and will be detailed in your agreement. Once your plan is presented to you, we then assist you in its execution over the course of the year as well as implement your investment strategy and provide ongoing investment management services. The fee for ongoing financial planning ranges from $0 - $400 per month. We will charge an annual fee based upon a percentage of the market value of the assets being managed as set forth in the following tiered fee schedule:
Managed Investable Assets Annual Fee
- First $0 - $250,000 0.80%
- Next $250,000 - $500,000 0.60%
- Next $500,000 - $1,000,000 0.40%
- Next $1,000,000 and above 0.20%
Sample Fee calculation - Total portfolio value of $300,000
- Financial Planning: Low complexity Plan
- Upfront On-boarding Fee: $800
- Annual Planning Fee: $600 (paid $50 per month)
- Asset Management Fee: $2,300 annually
Asset Range Amount Rate Annual Fee $0 - $250,000 $250,000 x 0.80% $2,000 $250,000 - $300,000 $50,000 x 0.60% $300
Total Asset Management Fee: $2,300 or 0.77% of assets
Sample Fee calculation - Total portfolio value of $650,000
- Financial Planning: Low Complexity Plan
- Upfront On-boarding Fee: $600
- Annual Planning Fee: $0
- Asset Management Fee: $4,100 annually
Asset Range Amount Rate Annual Fee $0 - $250,000 $250,000 x 0.80% $2,000 $250,000 - $500,000 $250,000 x 0.60% $1,500 $500,000 - $650,000 $150,000 x 0.40% $600
Total Asset Management Fee: $4,100 or 0.63% of assets
Q. How do your investment management fees stack up against the industry?
Quite favorably, actually! According to the 2017 AdvisoryHQ Report - Average Financial Advisor Fees & Costs - for firms that charge clients a percentage of the assets being managed, the average annual advisor fee on a $500,000 portfolio is 1.05% ($5,250) and trails down slightly to 1.02% on a $1,000,000 ($10,200) portfolio. That same $500,000 portfolio managed by Equalis would pay 0.70% ($3,500), which is 30% lower than the industry average. And the $1,000,000 portfolio managed by Equalis, that would be 0.55% ($5,500), 45% lower than the industry average.
Q. I don’t live in California, can I still work with you?
Absolutely! Thanks to modern technology, we can work with just about anyone from anywhere in the country, as long as there is a computer and an internet connection.
Q. Do you meet with clients at your office?
Nope! The goal is to make this experience as convenient as possible which is why we typically meet with clients at their residence, place of work or a local coffee shop. We also offer evening and weekend appointments to accommodate busy schedules. In addition to in person meetings, we can meet virtually via Zoom, FaceTime, Google Hangouts, Skype, etc., even if you’re down the street from us (LA traffic is no joke).
Q. Why don’t you meet with clients at your office?
Talking about finances can be very stressful and research has shown that discussing sensitive subjects in an environment where the client is most comfortable greatly reduces stress levels, thus making it a more positive and enjoyable experience. Also, the Equalis office is tiny and barely holds more than a desk and a chair, which probably wouldn’t be comfortable for either of us.
Q. How Long have you been in the business?
Leighann joined her first independent firm in January 2007 as a part-time assistant and has worked nearly every position from compliance to paraplanner to advisor.
Q. Why a CERTIFIED FINANCIAL PLANNER™?
Although many professionals may call themselves “financial planners,” CFP® professionals have completed extensive training and experience requirements and are held to rigorous ethical standards.
To earn the prestigious CFP® certification and remain certified as a CFP® professional, individuals must meet the following requirements:
They must complete a comprehensive course of study offered by a college or university program approved by CFP Board. In addition, they must have earned a bachelor's degree from a regionally accredited college or university.
CFP® professionals must successfully complete CFP Board's comprehensive examination, which tests an individual's ability to integrate and apply their financial planning knowledge.
They must acquire three years of financial planning related experience, or a limited 2-year structured option, before achieving the right to use the CFP® marks.
They must voluntarily ascribe to CFP Board's code of ethics and additional requirements as mandated. This includes providing financial planning services as a fiduciary, or acting in the client's best interest.