Fees & Compensation

Fee Schedule

We will work with you to create a goals-based financial plan and update it annually or whenever a major assumption changes. We’ll share your plan through an online financial organizer, so you can change assumptions whenever the mood strikes you. You can contact us whenever you have a question related to your personal finances and we will respond with our best advice. No extra charge. It’s all included in your monthly fee.

Financial Planning

Pricing for our Financial Planning Program is based on your net worth (assets - liabilities). New clients pay a one-time Start-up Fee and all Financial Planning Program clients pay an ongoing monthly Program Fee based on the fee table below. The Start-up Fee is for Client onboarding, data gathering, and setting the basis for the financial plan. This work will commence immediately after the fee is paid, and will be completed within the first 30 days of the date the fee is paid. Therefore, the upfront portion of the fee will not be paid more than 6 months in advance.

We will calculate your monthly Program Fee by multiplying 0.24% and then dividing by twelve months to determine the monthly fee. We have a minimum Program Fee of $250 per month. The Start-up Fee is half of a year’s worth of Program Fees. For clients with a net worth below $1,250,000 the minimum fee of $250 per month will be applied and their start-up fee will be $1,500.

The Start-up fee will be charged initially, and the Monthly Program fee will not be charged until the beginning of the next month with the completion of the client onboarding and data gathering process.

Your price level will be determined in advance and stated on your Financial Planning Agreement for approval. Program Fees will be reviewed and reset annually and will not change without your written consent. Start-up Fees are paid one - time at the start of service.

Investment Management

The annual fees are negotiable, prorated and paid in arrears on a monthly basis. The standard advisory fee is based on the market value of the account and is a flat annual fee of 1% calculated by multiplying the account value as of the last day of the previous month by 1% and then dividing by twelve to get your monthly fee. For example, an account valued at $1,000,000 would pay a flat annual fee of 1% with the annual fee of $10,000. The monthly fee is determined by the following calculation: ($1,000,000 x 1%) ÷ 12 = $833.33.

When an Outside Manager is used, the Outside Manager will debit the Client’s account for both the Outside Manager’s fee, and BFP’s advisory fee, and will remit BFP’s fee to BFP. Please note, the above fee schedule does not include the Outside Manager’s fee. No increase in the annual fee shall be effective without agreement from the Client by signing a new agreement or amendment to their current advisory agreement.

Accounts initiated or terminated during a calendar quarter will be charged a prorated fee based on the amount of time remaining in the billing period. An account may be terminated with written notice at least 30 calendar days in advance. Since fees are paid in arrears, no refund will be needed upon termination of the account.

Project-Based Financial Planning Fixed Fee

Project-Based Financial Planning is offered on a fixed fee basis. The fixed fee will be agreed upon before the start of any work. The fixed fee can range between $500 and $5,000, depending on complexity and the needs of the client. The fee is negotiable. If a fixed fee program is chosen, half of the fee is due at the beginning of the process and the remainder is due at completion of work, however, BFP will not bill an amount above $500 more than 6 months in advance. Fees for this service may be paid by electronic funds transfer or check. In the event of early termination any prepaid but unearned fees will be refunded to the Client and any completed deliverables of the project will be provided to the Client and no further fees will be charged.

Financial Planning Hourly Fee

Hourly Financial Planning engagements are offered at an hourly rate of $250 per hour. The fee may be negotiable in certain cases and is due at the completion of the engagement. In the event of early termination by the Client, any fees for the hours already worked will be due. Fees for this service may be paid by electronic funds transfer or check.

Other Types of Fees and Expenses

Our fees are exclusive of brokerage commissions, transaction fees, and other related costs and expenses which may be incurred by the Client. Clients may incur certain charges imposed by custodians, brokers, and other third parties such as custodial fees, deferred sales charges, odd-lot differentials, transfer taxes, wire transfer, and electronic fund fees, and other fees and taxes on brokerage accounts and securities transactions. Mutual fund and exchange-traded funds also charge internal management fees, which are disclosed in a fund's prospectus. Such charges, fees, and commissions are exclusive of and in addition to our fee, and we shall not receive any portion of these commissions, fees, and costs.

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