how do you pay for our services?
First and foremost, we are your fiduciary.
As a Registered Investment Adviser regulated by the Securities and Exchange Commission under the Adviser’s Act of 1940, we have a legal & ethical obligation to act exclusively in your best interest.
We are paid by our clients for our expertise and advice. We do not promote any investment products and do not receive any commissions, 12b-1 fees, solicitation or referral fees, and do not have any fee sharing arrangements in place with any other financial firms.
Before we begin our work with a client, we disclose the fees we charge in our advisory agreement. Thereafter, each client receives a monthly billing statement showing the fee being charged and how the fee was calculated.
Full Service
Our Full Service plan includes financial planning, investment advice, equity compensation optimization, tax & estate planning.
We charge a tiered fixed fee calculated as a percentage of assets under management, generally 1% per annum up $2 million, 0.75% for amounts in excess of $2 million but not exceeding $10 million, and 0.50% for amounts above $10 million.
Heron applies the following age-based minimums for Wealth Management clients:
50 and older: $1,000,000
45-49: $500,000
36-44: $250,000
35 and younger: no minimum
Heron Wealth reserves the right to waive this minimum where appropriate, usually in the case where it is determined that a client family will exceed the account minimums within a short time frame.
Investment Portfolio Strategy
We provide recommendations for your overall portfolio strategy outlined by asset class, such as stocks and bonds, large cap and small, value and growth styles, domestic and international. We advise you on how to position your portfolios to maximize tax efficiencies.
Cash Flow Management
We create cash flow models for you, offering strategies for debt reduction, savings and income. We also advise you on how to manage your resources so that you can fund multiple goals, from college funding to retirement saving and investing.
Retirement Planning
How will I know if I have enough to retire?
We help you to plan for spending in retirement when you are no longer earning an income. For example: how to structure your investment portfolio so that you can fund your lifestyle without taking more risk than necessary to attain your goals. We calculate a sustainable withdrawal schedule from your portfolio and advise you on maximizing your social security benefits.
Estate Planning
We help you to ensure that you are able to provide for the financial health and well-being of your family and make it easier for them to sort out your affairs after you're gone, as well as to reduce amounts subject to federal estate taxes.
Financial Planning Fees
We also provide stand-alone financial planning services to clients as needed:
Our wealth advisors also provide stand-alone financial planning services to clients. Every family is different, so the fee quoted will depend on the level of complexity of your financial situation and depending on the scope of work. This also includes a year of follow-up questions and answers.
After a complimentary discovery meeting or phone call, we provide a written fee estimate based on the scope of services we agree upon. A 50% upfront deposit is required before we start working on your plan, the remaining 50% is due when the plan is presented to you.