Assets Under Management
Many people in the industry only offer an Assets Under Management (AUM) model. We offer an AUM model since this is the industry standard. The AUM fee is based on how much you have to invest. The maximum fee we charge is 1.50%; it is lower for larger dollar amounts, and our fees are negotiable based on your personal situation and the complexity of your situation. These fees are usually deducted straight from your investment account. We would be happy to discuss your specific situation with you.
When saving for retirement, having a budget is important. Most people like to know what their expenses will be. We will work with you to determine a monthly fee based on your personal situation and the complexity of your situation. These fees can be deducted from your investment account or a bank account if you prefer. With the monthly retainer model, we will revisit the monthly fee, annually. Sometimes people make a withdrawal to purchase a home, put a child through college, or they inherit money. The monthly fee is based on your personal situation and the complexity of your situation. The monthly fee can range from $20 to $1,000 a month. We believe the investments should pay for themselves, but the 401(k) plan payments due have to come from a non-qualified account or from a bank account. We cannot charge another retirement account for the 401(k) management.
Sometimes you want help, with setting up your investments. There are many reasons why you might want to Do It Yourself (DIY). Whether you want to confirm what you are already doing, or you want to ask questions of us, we are here to help the DIY investor or someone that is not ready to move or cannot move their investments. We will spend some time getting to know you and then we will address your questions. Before we start an engagement, we will give you an estimate of how long we expect the engagement to last. We will do our best not to exceed that limit, but if that happens we will discuss that with you and come to an agreement on what it will take to finish the engagement. We will not charge you more without your prior approval. Our hourly fee is $300. Our hourly fee is negotiable based on your personal situation and the complexity of your situation.
Please see MRP’s form ADV Part 2A for more details regarding fees.