By working with you on an ongoing basis, MJM knows your financial situation which allows for better management of your financial affairs. MJM's ongoing service called wealth management provides proactive advice on:
1. Financial Planning
3. Tax Planning
In a nutshell MJM monitors the client's overall financial situation and provides integrated strategic financial advice.
- Ongoing financial planning based on your changing circumstances
- Impact of tax law and estate law changes on you and potential planning opportunities
- Retirement readiness or retirement sustainability monitoring giving you a piece of mind
- Ongoing tax planning/projections
- Trusted resource for you to call with financial concerns
- Investment Policy statement (roadmap for client asset allocation)
- Consolidation of investment accounts allowing for easier management of investment assets
- No paperwork hassle to establish accounts/transfer assets since we take care of paperwork
- Asset allocation rebalancing
- Quarterly performance reporting allowing you to see how your portfolio is performing
- Guiding you through volatile markets to take the emotion out of investing
- Tax efficient and tax smart investing saving you money at tax time
- Tax projections including scenarios to assess tax impact of decisions
- Tax preparation included in wealth management fee
Wealth Management Fee
There is an initial fee one time financial plan preparation fee depending on the complexity of your situation. Thereafter, MJM charges 1.0% of the first $1m of investment assets managed, and a lower percentage for additional assets managed. For example, if you have $2m invested with MJM, your annual fee would be $17,500, computed as follows: ($1m x 1.0% = $10,000) + ($1m x 0.75% = $7,500).
The fee is deducted on a quarterly basis from your investment account at TD Ameritrade. A portion of MJM's fee maybe deductible as a misc itemized deduction subject to 2% of AGI.
Having MJM on your team allows you to focus on other important areas of your life such as family, friends, and other meaningful activities. By working with MJM on a regular basis you know your financial well being is being monitored by a qualified professional.
Wealth Management minimum annual fee of $7,500 per year