HOW OUR FEES ARE UNIQUE
We are fee only financial planners in Long Island. We do not sell annuities, insurance, stocks, bonds, mutual funds, limited partnerships, or other commissioned products. We do not accept commissions or finder’s fees in any form. Beyond being fee-only, our fees are unique in the following ways:
- No AUM fees (Assets Under Management). Most traditional and fee-only advisors’ largest fee is based on an ongoing (monthly or quarterly) percentage of assets under management. This is in addition to financial planning fees. Woodhull is focused solely on delivering expert financial planning in Long Island on a flat-fee basis.
- Transparent, Flat-Fee Pricing. Before we begin work on your comprehensive financial plan or project, we will give you a firm quote for the hours we expect to spend. You may also decide to retain us on an ongoing basis once your comprehensive financial plan is completed. Ongoing retainer fees are charged monthly.
- Based Upon Financial Complexity. We base the number of hours required to complete your comprehensive financial plan on the complexity of your financial situation. The same criteria is used to determine the level of your ongoing monthly retainer fee.
Please refer to the three methods below to further familiarize yourself with how our fees might apply to your situation:
Comprehensive Financial Plan
We describe 6 levels of financial complexity in our ADV2. Please check there for an idea as to how many hours it will take to complete your plan. Number of hours times our hourly rate determines the overall cost. For example, our most common level, Level 3, is 12-18 hours resulting in a range of $3,360-$5,040.
Ongoing Monthly Subscription
Your ongoing monthly fee is also complexity driven. It is closely correlated to the same 6 levels of complexity for deriving the fee for the comprehensive financial plan.
Fees typically range between $1200 and $3100 depending upon complexity. Our hourly rate applies. An estimate of necessary hours is finalized prior to the engagement.
MEET WITH A FEE-ONLY, TAX-SAVVY
We offer a no-cost, no-obligation confidential consultation so you can see if we are the right fit for you.