What are your fees?
Wealth Management. Wealth Management includes both financial planning and investment management. For Wealth Management clients, our fees are as follows:
- For portfolios less than $1 million: 1.25% per year, billed quarterly
- For portfolios greater than $1 million: 1.00% per year, billed quarterly
Ongoing Financial Planning. For clients interesting in ongoing financial planning without investment management, our fees are based upon client complexity. Fees are as follows:
- Initial financial planning fee: Starting at $2,000
- Ongoing retainer: Starting at $150 per month
One-Time Financial Plans. For clients interested in a one-time financial plan, our fee ranges between $5,000 and $10,000, based upon client complexity. The plans include between 20 and 50 hours of work. Half of the fee is due at the start of the engagement and the remaining half of the fee is due upon completion of the plan.
Is there a fee for an initial consultation with you?
Absolutely not. Our goal is to build long-term relationships with clients. We want to get to know you and be sure that we’re a good fit for each other. The best way to ensure that it’s a good fit is to get to know each other first. For that reason, we do not charge a fee for an initial consultation.
Why should I work with an independent advisor instead of a big firm?
At Prana Wealth, we believe that your life savings shouldn’t be someone’s quarterly sales goal. As an independent Registered Investment Advisor (RIA), we are legally required to put your interests ahead of our own at all times, which is frequently not the case at large firms. We are able to invest, practice and think for ourselves rather than be beholden to the whims of corporate management.
For the best interests of our clients, we use a 3rd party custodian (TD Ameritrade) for our clients’ accounts. Given the advances in fin-tech software, independent, boutique firms like Prana Wealth can offer the advanced technology of a massive firm but with real personal touch from someone who remembers your name.
Why should I pay a financial advisor to do this for me?
The simple answer is that a competent financial advisor has years of experience guiding people like you to retirement and beyond. We’ve helped clients successfully navigate the Great Recession. We’re helping clients navigate the COVID-19 crisis today.
You don’t need a financial advisor, personal trainer, personal coach, nutritionist, accountant or travel agent, but they can certainly help you achieve your goals faster and easier.
We believe that your financial future is more important than a DIY project. Hiring an educated, experienced professional is better than spending the time to sift through all the misinformation on the internet.
If you don’t believe that, we understand. That’s okay. Someone has to be on the other side of our clients’ trades.
How do I know if I’m a good fit for Prana Wealth?
Please visit our Who We Serve page to find out a little bit more about the clients that we typically work with. We also ask our clients that they follow through with the plans we create together – we want to see you succeed. Positive change can only happen when you’re ready to do the work.
We also insist that our clients buy-in to our investment philosophy. We guided clients through the financial crisis in 2008 and 2009. We’re helping clients navigate the current global coronavirus pandemic today. Over the years, we’ve seen dozens of advisors come and go. We know the philosophies that give our clients the best odds of meeting their goals. We don’t do exciting things; we do what works.
Do I have to live in ATL to work with you?
Of course not. Prana Wealth has been working virtually with clients since the firm was founded. We work with clients as far away as California and even meet virtually with Atlanta clients who prefer not to sit in traffic.
How do we get started?
The first step in getting started is to schedule a call to see if we’re potentially a good fit for each other. Click the link below to schedule a time for us to talk.