At Burnside and Company, we have come to realize that it is not in the client’s best interest to be charged the industry’s typical Assets Under Management (AUM) fee. This is what you mostly get from "Fee Only" Registered Investment Advisors and from Wealth Management Groups at Wall Street brokerage firms.
We are engineering a better way!
What’s an Assets Under Management (AUM) fee?
It’s when a "Fee Only" Registered Investment Advisor charges a percentage of assets for their help. If a client has a $1,000,000 investment account, and the advisor charges the industry standard 1%, then the client pays an annual fee of $10,000.
How Flat Fee Pricing Works
We estimate how many hours a quarter (3 months) it will take to run a client’s specific portfolio and financial needs through our processes. We track the estimated hours on our Quarterly Multi-Point Report which summarizes the work being performed for a client.
The Quarterly Membership cost is the estimated hours per month x 3 months x our hourly rate.
Once the cost level is set, clients can have peace-of-mind knowing that they will obtain true fiduciary insight.
Annually, we review the estimated hours per quarter (from the Quarterly Multi-Point Inspection Report) to see if it needs to be adjusted up or down.