Our Cost Transparency
We strive for complete transparency regarding the costs of financial planning and asset management and will freely discuss any and all compensation, either verbally or by sharing our form ADV Part 2A.
Since our compensation is not geared towards the number of transactions we perform but rather on how well your financial plan serves your needs, our motivation is quite clear: With an understanding of your tolerance for volatility and time horizon (when you need your money), we seek to assist you in developing a financial plan congruent with both your personal and financial goals.
The components of your fee are as follows:
- Timely Guidance, Perspectives, and Counseling
- Plan Implementation and Discipline to the Plan
- Plan Creation and Investment Strategy
Palm Wealth Partners is on “your side of the table,” focusing on a process-driven and values-based planning approach.
Our process is based on prudent financial practices and uses proven systems for each client that are:
- Individualized
- Interactive
- Systematic
- Ongoing
- Evolving
Fees
Our fees are discussed and agreed upon at the time of engagement:
Asset-Based Fees – Clients are billed an ongoing asset-based fee, payable quarterly in advance. Since the fees we receive are asset-based (i.e., based on the value of your account), we have the incentive to increase your account value. For detailed information, refer to our Form ADV Part 2A.
Insurance
As with asset management, we are not obligated to do business with any one company versus another. Therefore, we choose the carrier most suitable for your particular insurance needs, health, age, sex, and financial goals.
We are paid a commission directly from the company with which we place you, which creates a conflict, which we will fully disclose and review with you. The contract has embedded costs that cover this cost to the insurance company. Therefore, while you do not actually get a bill, realize that you are, in fact, indirectly paying us for our services. Typically, commissions are based on a percentage of your annual premium and are much higher in the first year.