Fees and Charges
Determining a fair and equitable way to be compensated for financial advice can be a challenge for advisors. After all, our advice has value only if the client perceives it, and is based on qualities that are not always visible to the naked eye. One advisor may have a PHD in Economics, but provide biased advice about taxes and investments. Another advisor may have a degree in business from a small community college, but have the talent and ability to pick just the right stock at just the right time.
Tresa Leftenant CFP® has been involved in the financial services industry since 1980 and has never received a direct customer complaint. (View CRD file) She has experience with all methods of compensation available to financial planners and has experimented with different models since establishing her independent practice in 2003. Many clients read that they should seek out “fee-only” advisors. This is good advice, except when a particular financial product that requires a commission to be charged fits perfectly into a personalized plan. In addition, recently new regulations have been issued that govern small brokerage and retirement accounts held at brokerage firms. The most important element of a fair and equitable fee structure is that the client feels they are getting their money’s worth and the advisor is 100% transparent about the TOTAL fees being charged and the choices available to the client.
Tresa’s current compensation model allows her to work with women and couples regardless of the size of their investment portfolio, or lack of one. Her passion centers around empowering women to get on the journey to financial freedom and making it affordable is an important contributor to getting started. Many people want to know up-front how much it will cost to engage a planner, and a lot of women believe they can’t afford it. Tresa is committed to changing their minds, to negotiating the cost for her advice so the client says “Great, let’s get started”!
Hourly Financial Advice and Coaching
A series of meetings where Tresa supports the exploration of limiting thoughts, beliefs and behaviors around money. Her signature program is designed to empower women to have more confidence, courage and clarity about their financial future so they will engage the financial planning process in their life. Real transformation in our relationship with money requires more than a few meetings, so Tresa recommends a period of time that is suitable for each individual’s financial situation and desire to create a new financial future.
Financial Life Plan Modules
Each component of a personalized Financial Life Plan is available to be engaged separately depending on each client’s preference and need. For instance, many women benefit from a spending plan and retirement plan, and don’t have need for the other elements. Tresa is dedicated to offer each client the most value for their money and to manage the process in the shortest time possible.
Investment Portfolio Management
Many clients aren’t yet in the phases on the financial hierarchy where they need investment advice. For those who do desire to hire Tresa as a long-term investment manager, she has a fee structure that is very competitive in the industry. Based on the client service model chosen, and the size of assets under management, her annual fees range from ½% to 1-½%. LPL Financial serves as My Financial Design’s broker/dealer and you can learn more about them by clicking here.
Ongoing Service Module
My Financial Design offers professional monitoring of client’s financial assets and regular updating of progress toward their Financial Vision. Quarterly Performance Reviews, phone conferences, newsletters, education blog, unlimited phone and email access and invitations to educational events are included in our service plan. Please note that the specific details are tailored to each individual and are based on the size and scope of the relationship.