Our Fee Structure

Wealth Development Council (WDC) is a fee-based advisory practice.  This means that WDC charges a fee for:

• reviewing your current planning, life position, and goals,
• counseling time to discuss planning options available to you, and
• providing a written summary as follow up. 

This also means that the firm charges a fee for the direct management of your investments and/or ongoing oversight of other, third-party investment managers. 

Finally, a commission may be paid if you choose to obtain certain insurance or investment products through us.   

We do not believe that one form of compensation is better or worse then another.  Rather, we believe It is important that you understand our compensation structure, so you always know how we are getting paid for the service we provide to you. 

You may choose to retain WDC as your advisor in all, or any combination of, the following areas:

Investment Management

Investment accounts can be managed directly by WDC or indirectly when WDC, as a servicing representative, arranges to have investment accounts managed by third-party investment managers.

WDC Managed Accounts

For investment accounts which are managed directly, WDC clients establish Pershing brokerage accounts.  These accounts are subsequently managed pursuant to a ProEquities Investment Advisory Services Agreement and a WDC Investment Policy Statement.

The fee schedule for directly-managed accounts, detailed in the Investment Advisory Services Agreement, is outlined below:

WDC uses a Tiered Fee Schedule to calculate fees for directly managed accounts.  This means that the percentage for the highest range of managed assets value achieved applies to all managed assets, not just managed assets within that range.

Example:             If Managed Assets are $800,000, then an Investment Advisory Fee of 1.25% (annualized) would be billed to the entire account. 

Important note:                               This fee schedule applies only to WDC-managed assets held in Pershing brokerage accounts. 

Investment Advisory Fees are billed quarterly in advance and are prorated when additional dollars are invested throughout the quarter.

Investment Management in conjunction with Third Party Managers

When third-party managers are contracted, WDCs advisory fees pay for WDC to monitor and supervise the relationship and provide service; the third-party manager's fees pay for investment management service(s) provided by that manager.  Clients are provided a fee schedule, similar to that above, which details both WDC's fees and third-party manager's fees.

Brokerage accounts are established and a third-party manager provides investment management services for the assets held in the applicable accounts pursuant to a specific Investment Policy Statement.

In this investment management relationship, total investment fees incurred are the total of WDC advisory fees plus the third-party manager's fees. 

Anticipated fees are reviewed with clients in detail prior to engaging the service(s) of a third-party investment manager.

Financial Planning and Consulting

You may choose to retain WDC as an ongoing, fee-based advisor or for consulting on specific planning projects, on a one-time , as needed basis.  WDC uses an individually customized ProEquities Financial Advisory Services Agreement to outline planning fees and to define the scope of the planning engagement before planning begins. 

When WDC is retained as an ongoing, fee-based advisor, an annual retainer is required.  The annual retainer will be calculated as an amount commensurate with the advice and time which is anticipated throughout a given year. 

When WDC is retained on a one-time, as needed basis, a retainer of $500 is required in advance; WDC’s planning fees then accrue at the rate of $185 per hour. An estimate of planning fees is given after an initial fact-finding meeting.

Your Financial Planning / Consulting relationship with WDC includes three key components, fact finding, consulting time, and a written report. 

Fact finding may include face-to-face conversations or telephone interviews with WDC staff, data questionnaires, and request(s) to provide documents such as investment statements, tax returns, insurance policies, wills, trust documents, buy/sell agreements, etc.

Consulting time is scheduled to review this information and discuss points of concern, questions, etc. regarding details, implementation, etc. 

Your written report:

• reflects current financial, personal, and business circumstances you share,
• summarizes the planning priorities you share with us, and
• assesses the likelihood of achieving your goals

The purpose and objective of a Financial Advisory Services Agreement, independent of any product implementation, is that you can be assured that the planning advice you receive is based solely upon your own needs and goals, not upon the commission income needs of your advisor.

Fees billed for advice pursuant to Financial Advisory Services Agreements are independent of any other compensation we may receive.  

For WDC investment management clients and insurance clients whose fees or commissions exceed $2,000 annually, some financial planning and consulting time may be provided on a complimentary basis.