Ongoing Wealth Management
If you’re looking for continued personalized advice, Ongoing Wealth Management may be a perfect fit for you.
It’s a custom blend of retirement planning and investment management, where you’ll get our Retirement Readiness Report and Investment Management Services for one annual fee.
Here’s what we’ll do for you:
Develop a target asset allocation and investment policy statement
Create a customized portfolio designed to achieve your retirement goals using low-cost index funds, individual bonds, CDs
Tactical portfolio management to take advantage of investment opportunities
Portfolio rebalancing to stay in line with your target allocation
Monitoring the annual portfolio withdrawals to maximize retirement income
Tax loss harvesting for taxable accounts
Processing of distributions as required (monthly or as needed)
Manage required minimum distributions when required
Track 1099s at year-end and work with your accountant to answer 1099 questions
Access to real-time performance reporting software to track the portfolio anytime you like
Create, process, and track your account paperwork
Your Initial Investment
Your initial investment will be at least $500,000. This can include both retirement and non-retirement accounts. We do our best work when managing our clients' complete portfolios. This lets us see a high-level view of all investments helping us recommend smarter decisions.
Transparent Fee Structure
This fee structure is the most transparent way for us to work with you. Your rate is based on the Assets Under Management Fee Schedule below. Fees are billed quarterly, in advance. Annual fees are prorated for the billing period and calculated on assets under management at the time of billing (January, April, July, and October). Our management fees are based on the total assets we manage and are automatically debited from your account(s).
For example, if we’re managing $1,500,000 of your investments, the annual fee is 1% ($15,000/year).
Annual Rate Assets Under Management
1.25% 0-$999,999
1.00% $1,000,000-$1,999,999
0.85% $2,000,000-$4,999,999
0.75% $5,000,000-$9,999,999
0.70% $10,000,000-$24,999,999
0.55% $25,000,000-$49,999,999
0.40% $50,000,000+
The only additional costs are the internal costs of the ETFs (Exchange Traded Funds) and Mutual Funds we use for client portfolios. However, we believe in using low-cost index funds and keeping those costs to a minimum. These costs average less than .10% annually for our clients. You won’t find any hidden fees.
Morrissey Wealth Management doesn’t sell financial products or receive commissions for recommending financial products.
We operate as a fiduciary — the highest standard a financial advisor can hold.
“A fiduciary is a person or organization that acts on behalf of another person or persons, putting their clients’ interests ahead of their own, with a duty to preserve good faith and trust. Being a fiduciary thus requires being bound both legally and ethically to act in the other’s best interests.”
Source: Investopedia
Who do you custody client assets with?
We don’t custody client assets that we manage. We only custody client assets with three companies. Charles Schwab is our primary custodian. If you have annuities, we use Nationwide Advisory Services. If you have 403B accounts, we use Security Benefit. Each custodian provides their own separate statement at least quarterly.
Is ongoing wealth management a fit for me?
Book a free, no-obligation call. We’ll ask you a few questions, and we’re happy to discuss if this is right for you.