How much do you charge for financial planning?
We are one of the few firms who will invoice a fixed fee for planning as opposed to requiring clients to have assets to be managed. We bill by the hour and a typical comprehensive plan will require at a minimum of 10 hours the first year and 6 hours every year moving forward. That equates to $2500 over initial 12 months and $1500 every subsequent year. We can al a carte some parts of a financial plan such as estate planning or investment oversight, in which we would only bill for those hours.
Are you a fiduciary?
Short answer is yes. The basic definition of a fiduciary is a person who holds a legal or ethical relationship of trust with one or more parties. Through our portfolio management, financial planning, trust services, and business retirement plan consulting, we absolutely represent ourselves as fiduciaries.
How do you manage portfolios?
We do manage our own portfolios, and base those on various risk levels around need for income, growth, or some combination. We are agnostic to money managers and have a thorough system to assure we are using the best money managers in the appropriate asset classes. All portfolios are both active and passive based investments, and we stress test to assure the mix is designed to provide clients with the best upside potential as well as the best downside protection. We hold weekly meetings to review portfolio inventory to determine if adjustments are warranted.
What makes Highland Trust Partners different than other firms?
We built Highland Trust Partners to do the things that other firms do not or will not. We want to help reduce stress in the lives of families and business owners, and will continue to adjust our firm’s services & capabilities to do just that.
What types of clients do you work with?
We built Highland Trust Partners to make sure we could address the needs for all types of clients. Some examples but by no means limited to these:
- Retirees with cash flow management and estate planning.
- Pre-retirees with setting up plan for entering retirement years.
- Young families with getting their financial house in order.
- Business owners with succession and retirement benefit planning.
- Divorcees with financial organization and independence.
- Special needs families with asset protection and government benefits for child.
Do you have a minimum account?
While we do not have an account minimum, we do manage our own portfolios which are not appropriate for smaller account balances. Feel free to call us for a consultation regarding your situation.