How Do We Get Paid?
One of the most common questions we hear is “how do you get paid?” We’d like to provide clarity around our fees. It’s always our goal to provide more value than we receive.
Oak Point Wealth Management is a registered investment advisor. Most of our clients choose to invest assets in one of our advisory accounts. In an advisory account, you do not pay commissions to buy, sell, trade or rebalance stocks, bonds, mutual funds or any other position in your account. Instead there is an advisory fee which is deducted on a quarterly basis. This fee is based on the account value so if you experience a market decline, our fee goes down. If your account goes up, we celebrate with you! This fee pays for our advice, trading, monitoring and actively rebalancing in your account.
Some clients also wish to have us provide advice around other goals besides investment management. Our financial consulting service can provide advice around retirement readiness, retirement income planning, when to take social security, and tax planning, among other things. We are compensated with a financial consulting fee for this service.
Some clients choose to purchase products which are not held in an advisory account. We receive a commission for these, and there is no quarterly fee assessed. Your advisor would be glad to answer any questions you have about the fees that you pay.
*Rebalancing a portfolio may cause investors to incur tax liabilities and/or transaction costs and does not assure a profit or protect against a loss.