Plain Talk: Services and Fees
Bormann Wealth Management is a fee-only fiduciary practice, and is never compensated by commissions or from pushing specific financial products.
Fee Schedule
Assets Under Management:
- 1% annual fee on first $250,000
- 0.50% on next $750,000 (to $1M)
- 0.25% on next $1M (to $2M)
- 0.10% over $2M.
Annual fee is divided by 4 and invoiced quarterly in arrears. All managed accounts per household can be aggregated for purpose of reducing fees.
Hourly Financial Planning Advice:
- $280 per hour for advisor's time.
Hourly planning can be offset by any asset management fees paid.
Comprehensive Planning Package
We build your financial plan, lay out the steps, help you implement that plan and then stay in regular contact to keep on track.
- Initial Setup Fee: billed for 1.5 to 4 hours of advisor's time (depending on how many household members are included).
- Ongoing Planning Fee: 1 hour of advisor's time, per quarter ($280 invoiced each 3 months). Covers maintenance of your plan, annual review meeting, and consultation on demand, plus access to a digital financial planning portal where you can track your net worth, budget, and see progress in real time.
Ongoing Planning Fee is waived if you have assets under management at BWM. Initial Setup Fee may also be waived under special circumstances.
Advisory Service Commitments
Working with Bormann Wealth Management, you can expect:
- Easy access to advice from a fiduciary who understands your situation and will put your best interests first.
- Customized portfolios, closely managed according to your goals.
- Regular updates on the markets in relation to your investment strategy (3-4 client letters sent per year, or as situations demand).
- 24-hour turnaround goal for any questions by email, and instant access to advisor by personal cell phone for time-sensitive queries.