8 Adams Street,
Baystate Wealth Advisors is a fee only firm that does not receive commissions, kickbacks, or any type of revenue from our vendor relationships. The only fees we collect come directly from you, the client. Whether we recommend life insurance, a specific investment strategy, paying down debt or getting your estate plan done, you can rest assured that we are making these recommendations because they are in your best interest and not to going to our bottom line. We intentionally choose this model because we believe it reduces as many conflicts of interest as possible.
For clients who have assets under management greater than 250,000 dollars, delivery of an annual financial plan is included with fees charged for investment management.
A client has assets under management of 275,000 dollars. Total Fees would be 2750 dollars (1% of AUM) annually.
A client has assets under management of 200,000 dollars. Total fees would be 2500 dollars (1.25% of AUM).
A client wants a Basic Elements Financial Plan that includes planning on the 3 most important elements of their overall financial picture. Total fees would be $800*.
A client wants Comprehensive Financial Plan that includes financial planning on topics like educational funding, risk management, retirement, work benefits, estate, disability planning, business, tax optimization etc. Total fees would be $3000* and is negotiable.(*Based on normal complexity and needs)
A client has a question about Backdoor Roth IRA contribution or a quick Portfolio review which needs a couple of hours of Advisor time. Total fees will be $500 dollars**.
(**$250 per hr. rate *2hrs., billed at the end of the month in arrears. Total fees will be agreed upon before start of any work).
While we work with a wide range of clients from individuals, married couples to retirees who need help with their finances, we have found that we work best with physicians (including residents) and technology professionals. We are acutely aware of the financial issues facing them as well as strategies that can be deployed for their overall financial progress.