Sample Client Savings - Medical Professional

 FLATFEECIO Fiduciary Review   

Medical Professional with $2,350,000  36 Months Cumulative Savings: $69,240

A 44 year old Radiologist has $2,350,000 in assets under management with a Wealth Management Group at a Large National Bank.  Her accounts consist of a self-directed brokerage account in her group 401(k) with $450,000, an IRA with a rollover from a previous practice with $600,000 and a Joint Account with spouse with $1,300,000. Her legacy asset-based percentage fee structure at the Large Bank Wealth Management Division was as follows:

EXTERNAL ADVISOR FEE

Advisor Fee of .88% on total Assets Under Management of $2,350,000                     = $20,680

(Dollar Amount of Fee Fluctuates and Grows Directly with Account Value)

THIRD PARTY MANAGER FEE

Third Party Manager Fee of .50% on total Assets Under Management                        =$11,750

   of $2,350,000 

(Dollar Amount of Fee Fluctuates and Grows Directly with Account Value)                         

             

TOTAL ONGOING ANNUAL FEES (EXTERNAL & INTERNAL)                                       =$32,430

 

FLATFEECIO Efficient Wealth Plan Upgrade

 EXTERNAL ADVISOR FEE

FLATFEECIO FIXED DOLLAR ANNUAL RETAINER                                                          =$7,000  

(Dollar Amount of Fee is Fixed and Does Not Grow Directly With Account Value)      

 INTERNAL PRODUCT FEES

Internal Fund Expense of .10% on Mutual Fund Alternative                                                  =$2,350

     on Total Assets Under Management of $2,350,000

(Dollar Amount of Fee Fluctuates and Grows with Account Value)

                     

TOTAL ONGOING ANNUAL FEES (EXTERNAL & INTERNAL)                                        =$9,350

 

SAVINGS SUMMARY

TOTAL LEGACY FEES (EXTERNAL & INTERNAL)                =$32,430

FLATFEECIO ANNUAL FEES (EXTERNAL & INTERNAL)       =$9,350

 

RECURRENT ANNUAL SAVINGS                                             =$23,080

24 MONTHS CUMULATIVE SAVINGS                $46,160

36 MONTHS CUMULATIVE SAVINGS                $69,240

 

Hypothetical Client Fee Savings Illustration. Actual Savings Results May Vary. Percentage based advisor and product fees fluctuate which can increase or decrease potential annual and cumulative savings results.