The Pillars of the Plan
The Strongside Fee Structure
Why Did WE Choose The “Monthly Subscription” Model?
Strongside firmly believes that running our business in the most ethical manner possible will accelerate our growth for long-term success. We will always be invested in our client’s whole success and financial independence rather than solely the assets we manage on their behalf. As an independent, flat-fee, fee-only, fiduciary firm Strongside believes firmly in fee transparency. The monthly flat fee subscription allows us to provide conflict free advice while other advisors charge commission, portfolio management fees, or both which creates the potential for massive conflicts of interest.
Let us Explain.
Example: The Jones Family has a net worth of $2 million dollars and has assets of $700,000 managed by XYZ advisors who charge a 1% portfolio management fee. If Mr. and Mrs. Jones decide they want to take half of that portfolio and use it towards a real estate purchase, the advisors at XYZ would lose half of the assets that they manage. If the advisors at XYZ let this happen, XYZ would lose half of the revenue generated by the Jones family for their firm. This conflict of interest might cause some of the advisors at XYZ to talk the Jones’ Family “off the ledge” even though real estate might have been a great option for their family for income replacement and early retirement.
At Strongside, we avoid this conflict all together by utilizing a business structure that aligns our company goals with building your family’s net worth rather than assets under management. Our bottom stays the same regardless of the asset class we recommend to the clients we serve, and the asset classes we recommend surely do not always involve the market.
Our Final Fee Model – Hourly Plan
Strongside also has the option to provide financial advice at an hourly rate of $300. This is used for advanced consultations and one-off ancillary projects. Some examples of hourly projects we have completed are estate planning consultations to organize your thoughts before heading to an estate attorney, Cash Flow and Budget review/implementation, 529 plan set-up, and insurance and risk consultations to make sure your family is protected. Often these one-off projects lead to long-term relationships with the families we educate.
As an independent, fee-only, fiduciary firm Strongside believes firmly in fee transparency. We will only charge for the value that we provide to you and your family. Our fee is derived from the assets we protect and grow, the planning we provide, and the fiduciary advice that we give to your household. We list our fees with our services because we want you to know exactly what to expect.
We are never compensated for advising you to purchase a particular mutual fund, ETF, stock, or any other investment product. We are also never be compensated for selling any particular insurance product, Strongside does not sell any products at all. We believe it would be in the best interest of everyone if all advisors acted in this same capacity.
Still have questions? Here are the Next Steps
1) Schedule your free Consultation with us
2) We review your situation and see if a working relationship makes sense
3) Take some time to discuss it with your family