Who is being paid on your financial planning team? How much of this goes to your professional and how much goes to the financial institutions you are working with? Your financial planning professional should welcome these questions and provide candid answers. You should expect a transparent relationship for the duration of your work together.
Asset based fees can add up to tremendous sums over time. These are the percentages that you may not notice coming from your investments. In a given year they may not add up to much, but as your account grows your fees grow.
As a general rule you should avoid asset based expenses whenever possible. This of course depends on your goals and your ability to pay for the services you need.
The above is a hypothetical example and is provided for illustrative purposes only.
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If you are investing in a bundled financial you will have some level of asset based fees. There are always transaction fees, which are deducted from your assets as a dollar or as a percentage built into the product or account.
However you invest it is highly likely that there is an asset based expense that you cannot escape. You deserve a breakdown showing what you are paying and who is getting paid. This is one of Crest Financial LLC's performance standards.