Component #3
Sensible, flexible fee structure
Because effective wealth management involves working with so many financial products and services, it is critically important to understand the compensation structure.
Unlike many of our competitors, most of McKinley Carter's fees are paid directly by the client and can be stopped at any time without penalty.
In part, this is because we believe the only way to be sure that clients are satisfied with our services is for them to know not only what they are paying, but also that they have the power to stop those payments at any time.
Being paid directly by our clients also means that our advice and services are not biased by commissions or other compensation from other financial services we may refer our clients to (e.g. custodians, trading mutual funds, lawyers, accountants).
Most clients compensate McKinley Carter with fees based on a percentage of the value of the investment accounts we manage for them. This encourages McKinley Carter to keep trading and mutual fund costs in those accounts as low as possible, consistent with the desire to maximize return on investment.
Some clients, especially younger clients who are just beginning to accumulate assets or high-net-worth clients who have accumulated sizable assets not being managed directly by McKinley Carter, choose to pay a fixed consulting fee per quarter.
Whether they choose an asset-based or a quarterly consulting fee, one thing that McKinley Carter clients do not have to worry about is the feeling that "the clock is running" when they are working with their McKinley Carter advisor. It is our job to provide the services our clients need without relying on expensive cost-plus hourly fee arrangements demanded by many financial professionals.
Do you know how your advisor is compensated? Do you have questions or concerns regarding your current fee structure?
Contact us for a comprehensive review of your financial situation.