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.