Fee Structure
Turloff Financial Consulting operates on a fee-only basis. This means that we receive revenues exclusively from fees paid by our clients. Unlike commission-based brokers and financial advisors who may stand to gain financially from their recommendations, we serve our clients in a fiduciary manner. We do not accept commissions, referral fees, or any other compensation for recommending specific products. Consequently, our recommendations are made exclusively with your best interests in mind.
We strive to keep our fees as low as possible for one simple reason: It means more money in your pocket, resulting in a higher standard of living. We are able to keep our fees low because we keep our operating costs low. Fees for asset management are 0.6% of the first $500,000 and 0.3% over $500,000, with a minimum of $750 quarterly.
Costly Advice About Investment Advisors - Laura Savage
CFA Institute Code of Ethics
|
Registered Investment Advisors (RIAs) vs. Brokers
|
Brokers
|
Registered Investment Advisors
|
Primary Function
Brokers securities transactions for clients
|
Primary Function
Provides sound advice and guidance to clients
|
Compensation
Primarily commission, both on transactions processed and from selling securities from their portfolio
|
Compensation
Paid a flat fee or percentage of assets managed exclusively from the client
|
Responsibility to Client
Ensures investment recommendations are "suitable" for clients and client orders receive the best execution, but is not held to a fiduciary standard
|
Responsibility to Client
Legally bound to serve the best interests of the client (fiduciary duty)
|