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Frequently Asked Questions

Q: How are fees determined?

A: Mindful Money fees include a one-time plan fee and quarterly advisory fees based on the level of assets under our direct management. Our maximum advisory fee is 1.25% and we bill our fees on a quarterly basis, in arrears. We do not receive commissions, referral fees, or other forms of hidden compensation.

Here is our schedule of advisory fees:

In addition, mutual funds and ETFs have internal costs. And our custodian (Schwab) assesses a transaction fee for the purchase and sale of certain individual stocks, mutual funds, and Exchange Traded Funds (ETFs).

Q: Do you have a minimum portfolio size?

A: Our current minimum portfolio size is $1,000,000 for relationships that involve ongoing pro-active advice from one of our advisory teams. If you have unique circumstances that you would like to discuss, please do not hesitate to give us a call.

Q: Who is a typical Mindful Money client?

A: Our clients are individuals and families that share an interest in the goal-focused and planning-driven approach we call Mindful Wealth Mapping. They share our belief that markets cannot be predicted or controlled and are looking for a long-term partnership with a trusted family advisor.

Q: What is a Fiduciary and why does it matter?

A: A fiduciary is a person or an organization that acts on behalf of another person or family – PUTTING THAT PERSON OR FAMILY’S INTERESTS AHEAD OF THEIR OWN – with a duty to preserve good faith and trust. Mindful Money believes an advisor should always act in the best interest of each client. This is a legal requirement, of course. More than that, it is our moral and ethical responsibility when a client places their trust in our care.

Q: Do I want an advisor and what questions should I ask when selecting an advisor?

A: You can find a guide in our blog post below:
Do I Want a Financial Advisor?

Q: How can I judge whether or not I have the right advisor for me?

A: You can find a guide in our blog post below:
Do I Have a Good Financial Advisor?

Q: How do you work with clients?

A: Our wealth management clients each have a personal Wealth Advisor. Their advisor is their guide during their entire relationship with Mindful Money. The advisor walks them through the initial planning and onboarding process, handles all pro-active outreach to the client and family, and runs client plan review meetings as well as family meetings as necessary. Mindful Money client advisors are available to answer client questions and support clients through all major financial decisions.

In addition to the client’s advisor, we have an entire eco-system of advice. We send out a Weekly Perspectives email; clients receive Quarterly Performance reports from our office, monthly statements from our custodian, and they have online access (we have an app) to all of their portfolios and historical statements.   The Mindful Money team will reach out to schedule a plan review twice a year and we stand ready to review your plan more often at your request.

We have an experienced management team, a planning group, and an operations group that supports each advisor and client. And we host client events to both keep clients informed and build a vibrant client community.

Q: Can you tell us about your “performance?”

A: Generically, no. Rather, we are planning driven - we measure our success in terms of our client’s successful lives.

Each of our clients has a unique financial plan and portfolio history. They each take different amounts of risk, have different legacy positions, and add/subtract money at different times. If we did aggregate the performance information we have, it wouldn’t mean anything.

Recognizing the very strong draw of the “performance” conversation, we believe you have to be very careful inquiring about performance. The reality is, as can be read on every single financial advertisement, “Past Performance is No Guarantee of Future Returns.” An investment that is on the top one year, is rarely on the top the next. And, who was on top last year or over the last 5 years says nothing about who will be on top in the future.