The True Cost of Fees

One of the biggest objections we hear is that you don’t want to pay a fee for private wealth management service. You’ve already lost enough money in this market and you don’t really want to lose more money to fees.

But the fact is that unless you have your money under your mattress or in a jar, you are paying fees and the amount you are paying would surprise you! There are hidden fees inside your insurance contracts, management fees inside all of your mutual funds, account fees inside your 401(k) or pension plan, and sometimes 2,3, or 4 sets of fees inside your retirement account.

Instead of being billed directly, these fees are taken from your account values, and you get a NET return. In a down market, you are actually using your principle to pay these fees since the account is not making any money.

There is no such thing as a free lunch. Whether you are working with a financial advisor, a broker, or a private wealth manager, YOU are paying fees. The real question is how much are those fees and what are YOU getting in return.

To hear the Smart Money Radio Show segment where Bruce discusses paying fees for private wealth management, Click Here! (about 7 minutes long)


To hear the full Smart Money Recipes Show where Bruce discusses Private Wealth Management, Click Here! (about 25 minutes long)

Wealthy Individuals Use Private Wealth Management, So How Can You Use It?

Most firms require assets of 20 Million dollars before you can gain access into their Private Wealth Management services. But it shouldn’t have to be this way!

You need to understand that sound financial principles are the same whether you are a widow with $50,000 or Bill Gates with his billions. The tax codes, retirement guidelines, and investment strategies do NOT have minimum account size restrictions, BUT YOUR financial planning firm and broker do!

Everyone can benefit from Private Wealth Management. The biggest difference is revenue for the brokerage or broker. It does not pay as well as selling products, so you see it less often.

Using today’s technologies, we are able to give YOU access to smarter and safer strategies for YOUR finances.

Why shouldn’t you be enjoying better services, lower fees, NO sales charges, and safer products?? It is YOUR money, shouldn’t you be getting the most out of it??

To hear the Smart Money Recipes Show segment where Bruce discusses why you haven’t heard of private wealth management, Click Here! (about 7 minutes long)


To hear the full Smart Money Recipes Show where Bruce discusses Private Wealth Management, Click Here! (about 25 minutes long)

Private Wealth Management and You

If you’ve never heard of Private Wealth Management or didn’t think it applied to you, there’s probably a good reason. Private Wealth Management is a customized investment management and financial planning service. Traditionally, it was reserved only for very wealthy individuals, trusts, and businesses. These wealthy clients received a higher level of service and they were granted special access to financial programs not available to the average investor. In addition, many of the fees and charges that are paid by most investors are eliminated for these wealthy entities.

You may ask, “Isn’t this the same thing as having a financial planner or broker?”

The answer is No! Most financial planners and brokers actually sell financial products to solve their clients’ retirement, investment, or insurance needs. Private Wealth Management is quite different. It is how most wealthy people handle their financial affairs. In most cases, they have access to choices that are NOT available to the average financial consumers.

So why have you never heard about it?

Private Wealth Management is NOT a new idea. It has been around for as long as the markets have existed.

There are 3 primary reasons you may have never heard of it.

First, in Pennsylvania, there are about 300 people licensed to sell investment products to you for every 1 private wealth manager. They could be your accountant, your lawyer, banker, realtor, financial planner, or broker.

Second, many wealth managers typically require a minimum account size (sometimes of $2 million or more) of their clients, pricing them out of the range of the average investor.

Finally, some wealth managers have built up a big enough client portfolio that they no longer take on new clients.

To hear the Smart Money Recipes segment where Bruce discusses Private Wealth Management, Please Click the Play button (about 7 minutes in length)


To hear the full Smart Money Radio Show where Bruce discusses Private Wealth Management, Click Here! (about 25 minutes long)