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How does WFA charge clients?

Hourly and Project Work
After an initial meeting, the planner will get approval from the client for a predetermined number of hours of work or propose a project price. Hourly rates and project costs are set by each planner and should accompany a timeline. All charges are billed in arrears. Working with a planner by the hour or project means clients must be proactive. The client is responsible for identifying the body of work and specific goals. Under this arrangement, the planner does not monitor accounts on a regular basis. Many clients chose hourly or project work if they have questions regarding a specific financial issue, desire a second opinion or require a regular “check-up” on one or more aspects of their financial life.

Retainer and Contract Clients
Retainer or contract clients receive comprehensive financial planning and wealth management services on an annual basis. Contract clients enjoy a proactive relationship with their planner, as the responsibility falls on the advisor to make timely suggestions and provide regular guidance on every aspect of the client’s financial well-being. Typically, contract or retainer clients are interested in a long-term planning relationship. The contract fee takes into consideration the complexity of the work and the amount of assets under management. WFA does not use an AUM style to calculate the contract value. Contract fees are not calculated on the fluctuating value of the portfolio or performance.