FAQ Group Four - How Will I Pay? What is a Typical Fee?
How will I pay for your financial planning services?
Clients pay financial professionals in several ways: through fees, commissions, or both. Your advisor should clarify how you will pay for the services provided in writing.
Answer:
Avantax Advisory ServicesSM calculates the cost of your asset management service as a percentage of assets under management. You may pay your fees with a distribution from an investment account. Although, one may elect to pay their fees separately by check or bank transfer.
I sell no commissioned-based products.
Asset management fees are paid directly to Avantax Advisory ServicesSM, and they forward a portion of the fee to me as an independent contractor. I am not an employee of Avantax Advisory ServicesSM. Avantax Advisory ServicesSM provides written fee disclosure with the investment management agreements.
The cost of my income tax preparation and planning services are calculated based on the forms required to complete your tax filing or plan. You may pay the fee for filing your tax return or constructing a tax plan by cash, check, or credit card. I, as a sole proprietor, receive 100% of the fee. Your completed income tax return includes a detailed invoice listing the cost per tax form and any additional expenses.
How much do you typically charge?
Although what you pay will depend on your particular needs, the planner should be able to estimate possible costs based on the work they will perform. Prices should include the planner’s hourly rates, flat fees, or the percentage of commission received on products you may purchase.
Answer:
- I do not offer financial services based on flat fees, hourly rates, or commissions.
- Investment management fees will vary between 0.75% and 1.45%, depending on the advisory agreement selected and the total (household) amount of assets under management. These fees cover all costs associated with the management of your investment account.
- Foundational and Advanced financial plans are offered only to qualifying clients at no additional charge**.
- Income Tax Planning is available to tax clients with $400K or more invested through me at Avantax Advisory ServicesSM at no additional charge.
- A simple tax return may cost as little as $155*.
- A head-of-household filer with multiple tax credits typically costs about $400*.
- A typical itemized income tax return would generally be about $380*.
- A typical itemized income tax return with self-employment or Rental Property may cost between $450* and $650*.
- A “loyal, on-time filer” discount of 20% is available for income tax preparation only.
- A “loyal, on-time filer” discount of 40% is available to tax clients with $400K or more invested through me at Avantax Advisory ServicesSM.
- An hourly rate of $125 applies toward extended tax appointments or research and telephone calls to resolve issues unique to your tax return.
- ProtectionPlus Tax Fraud and Audit Assistance is an added benefit at no additional charge.
*These income tax preparation fees are based on a general estimate of the required tax forms, schedules, and worksheets. Therefore, the actual cost may vary with the complexity of your tax filing requirement.
Your completed tax return provides an itemized account of your required tax forms, tax schedules, and worksheets with their associated fee. Specific additional costs may not be associated with a tax form or worksheet.
**Foundational Financial Plans are available to any tax or investment client. In addition, Advanced Financial Plans are available to tax clients with a total (household) investment of at least $500K through Family Financial with Avantax Advisory ServicesSM.