Fee Transparency
(1) Exactly what the total dollar amount is for the service, before signing a contract.
(2) The method of charging / compensation arrangement.
(3) How that fee was established.
With Layered Financial, the fee for service will always be known. What the service includes and the total cost will be clearly listed on the website and outlined in your financial planning agreement. This is the all-in cost. There will be no surprises. Any change to your fee will require an entirely new financial planning agreement, signed by both of us.
Bottom line, you deserve to know:
Current Fees
Compensation Arrangement
Fixed-Fee
Sometimes referred to as “flat fee.” This compensation arrangement is typically based on the complexity of the client’s financial situation.
Fee-Only
Fee-only does not mean the same as fee-based. The only compensation we receive are the fixed-fees paid for the services we provide. We are not compensated by commissions, product sales, or referral fees. As a fee-only adviser, we are bound by the fiduciary standard as opposed to the suitability standard. See more on fiduciary vs. suitability here.
Industry Averages
Where did this information come from?
These charts and figures were obtained from articles and publications released by Kitces.com.
In addition to Kitces resources, here are some articles that include pricing on standalone financial plans from Yahoo Finance, AARP, and Business Insider.
