What We Charge
At Peterkin Financial, we have a minimum 1-year planning commitment for new clients.
Our annual planning fees start at $5,000 and can be billed monthly, in advance, based on the fee.
Having investable assets or moving over investment assets to be under our management is not a requirement of working together. That being said, for clients who want ongoing help managing their investments, typically their flat planning fee will be lowered to reflect the increased overall fee based on a percentage of assets under management and may be used to reduce their flat planning fee. When we manage accounts it is done so via an independent and unaffiliated money manager and custodian and we never (ever) take custody of client assets. This is important as it protects investors from fraud and theft. It also ensures I never make a commission for investment transactions since we are not a representative of any financial custodian. In some cases where the client is in need of an annuity income guarantee or life insurance, commissions may apply.
Unlike traditional financial planners who typically don’t charge an upfront planning fee (or have a very low up-front planning fee with minimal ongoing planning commitment) but have minimums for investments under management, our fee structure allows clients who don’t fit a traditional mold to pay for quality comprehensive planning. Typically, these clients who are heavily invested in their businesses, real estate, or company retirement plans aren’t able to get the planning relationship they’re looking for because they don’t meet investment minimums or are pursued by advisors looking to pitch a product fit instead of working with and advising on their current financial situation in a way that fits their goals. Our clients who do fit a traditional model often have no idea what they are paying their advisor(s) because they aren’t writing a check to anyone and the actual commissions and fees going to their advisor(s) aren’t explicitly shown on their account statement. When these clients come to us they are typically feeling underserved because they’re used to receiving very limited, investment focused check-ins.