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V. The Fine Print

Fees, Let’s Talk About Them

Fees should be transparent.
By that we mean, transparent.

Do you know what your old-school stock broker really charges you? Does he/she know what their firms are charging you? It is probably confusing to both of you. The old Wall Street way of working with wealthy individuals is changing but it isn’t changing fast enough for us. We charge a fee of 1% per annum on the value of your accounts. When your account value goes up, we get to enjoy that upside too. You will still pay a fee on the underlying ETFs.

Good news is that ETF fees are anywhere from 0 to 75 basis points and they keep getting lower. There is no trick there. You get a net price when we buy or sell for you. No loads, no confusing A shares, B shares, C shares. We pay the cost to trade those ETFs—not you. If we buy individual bonds for you, we pay the cost to trade those at institutional prices-not retail. If we buy individual stocks for you, we pay the cost to trade those.