We believe you deserve to know exactly what you're paying and why.
Better Pockets Financial is a fee-only firm. We don't earn commissions. We don't get paid by investment companies to recommend or sell their products. Our compensation comes entirely from the clients we serve, which is how we keep our advice honest and focused on what's actually best for you.
Our fees vary by service. Some clients pay a flat monthly fee for financial planning. Others pay a percentage of assets we manage on their behalf. Below you'll find a straightforward breakdown of each.
Have questions before you get to the numbers?
We offer three ongoing financial planning packages designed around where you are in your financial life. Your advisor will help you determine which one fits and when it makes sense to move between them.
All planning packages include an onboarding stage of 4-6 meetings and require an initial fee equal to 3X the monthly fee. All planning packages come with as needed access to your financial planner, in addition to the minimum number of meetings per year.
Each Financial Planning Package includes BPF Investment Management Services for assets under the Asset Threshold listed under Wealth Management Services.
Financial Planning services can be combined with Investment Management services, via our Wealth Management service.
When electing Wealth Management, you will pay the Financial Planning monthly subscription fee if your assets are lower than the package threshold, and the Investment Management asset-based fee if your assets are above the package threshold.
*Additional investment platform and management fees apply
We manage client investments through our custodial partners. Investment Management can be included with Financial Planning via our Wealth Management Service, or as a stand alone offering. Our advisory fee is a tiered, blended percentage of assets under management.
How blended fees work: You don't pay a single flat rate on your entire balance. Each tier only applies to the assets that fall within it. A $600,000 portfolio pays 1.00% on the first $500,000 and 0.75% on the remaining $100,000.
* Fees are charged monthly in arrears based on the average balance over the billing period.
We work with organizations to establish, monitor, and support workplace retirement plans. Our advisory fee is based on plan assets and is separate from any fees charged by your record keeper, custodian, or third-party administrator.
Fees are charged quarterly in arrears based on the average daily balance over the prior quarter. The minimum quarterly fee is $250 for most plan types and $125 for SIMPLE IRAs. If plan assets generate a fee below that minimum, the difference is billed to the plan sponsor.
* Fees can be paid directly by the plan sponsor or deducted from plan assets by the custodian.
For clients who need help with a specific question or a defined scope of work rather than an ongoing engagement.
We offer both Hourly and project-based engagements at a rate of $250 per hour. Please consult with your financial planner if you think a project or hourly work is right for you.
What else will you pay?
Our fee covers our advisory services. Depending on the service, there may be additional costs from other parties.
For investment management clients: Your custodian or investment platform may charge its own fee, and the investment strategies we use may carry internal fund expenses. We disclose all of those before you open an account and review them with you regularly.
For retirement plan clients: Your plan will carry fees from your recordkeeper, custodian, investment managers, and third-party administrator. We make sure those are fully disclosed and that you understand the total cost your participants are bearing.
We won't hide these numbers. If anything looks unreasonable, that's exactly the kind of thing we're here to help you address.
How our fees work.
In some cases, yes. We're open to conversations about fee adjustments depending on the situation, including asset thresholds, monthly fees, and onboarding fees.
The onboarding fee is due at the start of the engagement. The monthly fee begins on the first day of the month following your contract date and is paid in arrears.
You can cancel at any time with written notice. You have five business days from signing to cancel with no fees at all. After that, you'll be billed for any work completed and refunded any unearned prepaid fees.
We don't impose one, though the investment platforms we use may have their own minimums depending on the strategy selected. We'll walk you through those details before you commit.
Yes, for up to 12 months. After that, you'd re-engage as a new client, which means the onboarding fee would apply again.