Is there a fee for the second year for Financial Planning services?
The second year’s fee, depending upon the assets under management is significantly reduced, as compared to the first year’s fee. Generally the second year’s financial planning fee is 50% the first year’s fee, assuming certain minimums. Please note that the financial planning fees are separate from the investment management fees. However, the fee is waived if you place the greater of at least 50% of your investable assets, or a minimum of $300,000 under management with Summit.
