People seeking the services of a financial planner or an investment adviser typically fall into one of two categories:
First, people who are looking for someone to manage their financial well-being so they can focus on other aspects of their life, and second, “do-it-yourself” investors who manage their own financial well-being and would like to make sure that the plan they have designed for themselves will enable them to reach their financial goals. Lach Financial can assist both types of clients.
On-Going Financial Planning Services:
Many people do not have the time or inclination to manage their own investments, employee benefits, budgets, etc., and prefer to let a financial professional handle this aspect of their life. For these individuals, Lach Financial provides on-going financial planning services where we complete and implement a financial plan for the client. Every plan designed for our managed clients is custom tailored to meet the unique goals and constraints of each client. Lach Financial is a fully independent Registered Investment Adviser, and we use Dimensional Fund Advisors (DFA) for managed clients. DFA is based on peer-reviewed academic research, and is run by some of the top academic minds in finance, such as Eugene Fama and Ken French.
Our on-going clients are charged based on assets under management according to the following schedule:
|Amount Under Managment||Fee|
|Less than $240,000||$2,400 per year|
|$240,000 to $1,000,000||1.00% per year|
|Next $2,000,000 (up to $3,000,000)||0.75% per year|
|Next $2,000,000 (up to $5,000,000)||0.50% per year|
|Over $5,000,000||0.25% per year|
For on-going financial planning clients, additional services such as financial planning, retirement planning, employee benefits planning, and education planning are included at no additional charge. For on-going financial planning clients with less than $240,000 under management, there is a one-time fee of $1,000 for the development of an Investment Policy Statement.
For the do-it-yourself investor who plans to manage their own investments and finances, we offer hourly services at a rate of $250 per hour. While every plan is unique, the typical engagement requires approximately three to five hours to complete. However, depending on the complexity of the plan, more time may be required.