Fee-Only Financial Planning Services for LGBTQ+ Individuals and Families
Quiet Wealth offers two different fee-only planning services options for individuals and families:
Ongoing Advisory Services - For households with more complicated finances
Financial Planning Project - For households with less complicated finances
What do Ongoing Financial Advisory Services encompass?
Ongoing Advisory Services go through all the steps of a Financial Planning Project, but following the completion of the written plan, Quiet Wealth continues to work with clients on an ongoing basis to (i) monitor and periodically review all aspects of their financial plan and (ii) manage their investments.
Ongoing Advisory Services are only recommended for clients who have significant income and / or assets or who have significant ongoing financial advisory or business advisory needs.
What clients can benefit from Ongoing Advisory Services?
At least $1,000,000 in investable assets outside of company-sponsored retirement accounts
Ongoing, highly-complex financial planning needs or small business ownership
Desire to have an adviser manage investments on an ongoing basis
How do ongoing Financial Advisory Services cost?
The fee for the Ongoing Advisory Service are:
For households with less than $5,000,000 of net worth: $9,200 per year
For households with greater than $5,000,000 of net worth: between $9,200 per year and $20,000 per year, depending on the complexity of the client’s financial situation
Ongoing Advisory Services
What is a financial planning project?
Financial Planning Projects are fixed-fee engagements that provide clients a written financial plan addressing all relevant parts of their financial and life planning profile. In addition, Financial Planning Projects provide support for assisting clients in implementing their financial plan.
This service does provide investment advice as part of the written plan; however, clients are responsible for making trades to implement the advice and for managing their investments once the project is completed.
Financial Planning Projects generally require 4-6 months to be completed.
What clients benefit from a a Financial Planning Project?
High-income households that do not yet have sizable investment accounts
Households with common financial planning issues and challenges
Client has ability and desire to self-manage investments
How much does a Financial Planning Project cost?
Single households with no children : $3,900 for the project
All other households: $4,800 for the project
Business owners and partners in a business may be charged a higher fee depending on their income level and the complexity of their business.
When can I begin a Financial Planning Project?
Quiet Wealth onboards new Financial Planning Project clients in five cohorts throughout the year. Each cohort consists of 4-5 households.
The next available cohort will start around June 1, 2024.
Cohorts usually fill up about 4 weeks before the cohort start date, so it is essential to book an initial consultation several weeks in advance of the cohort start date to gather information on whether you would be interested in the reserving a spot in the next available Financial Planning Project cohort.
Financial Planning Project
Hourly Consulting Services
We offer financial planning consulting services whereby we are paid on an hourly basis for our services.
The majority of Hourly-Fee clients are former clients whose personal and financial background we are already familiar with. By using this service, former clients can have us review the existing financial plan and either (i) review one or two aspects of the plan that are concerning to them or (ii) recommend changes to the plan based on new personal circumstances.
On a highly selective basis, we may provide hourly consulting services to clients with whom we do not have a prior relationship. Typically, engagements with these types of clients involve a review of one or two aspects of their financial affairs. Prior to engaging with Hourly Consulting clients with whom we do not have a previous relationship, we interview them to ensure that the work and deliverables necessary to meet the client’s needs (i) can be completed in a reasonable and predictable amount of time; (ii) are unlikely to necessitate an expansion of scope beyond the proposed deliverables in order for the project to be completed in a proper manner; and (iii) will not lead to unintended second-order effects that have negative financial consequences for Clients because of a failure to incorporate factors that were not a part of the scope of the project.
Hourly-Fee Service engagements are offered at an hourly rate of $250.00 per hour. The fee may be negotiable in certain cases.