Broker Check

How Your Advisor is Paid

At Oaks Wealth Management, you and your advisor choose the most suitable method of payment. We believe providing you with the opportunity to discuss the most appropriate method of payment and full disclosure makes for the best working environment.

Setup Fees - The setup fee will or can vary depending on the time, effort and complexity of the financial program. The dollar amount is typically determined based on the amount of resources required to implement your plan. This fee can vary from $250 to $50,000 and is a one-time fee collected during the engagement process and prior to implementation.

Retainer - Designed for the ongoing maintenance, support, reviews and education of the Wealth Management Program instituted on your behalf, this fee is ongoing and typically 0.2 % of the Gross Estate or Gross Business Value. For example, an estate valued at $5 million typically will have a retainer of $10,000. The fee is paid in arrears and payment may be made quarterly - usually beginning the quarter after implementation and engagement begins. In an effort to streamline the process, the retainer fee can be drafted from your investment account.

Assets Under Management (AUM) - Oaks Wealth Management offers several comprehensive investment management programs and this fee is for those associated accounts. We customize your investments based on your risk tolerance and preferences. Management fees can vary from 1.0 % to 2.5 % - depending on the amount of assets. These fees are drafted from your investment account on a quarterly basis in arrears.

Commission - Some parts of your program may pay the advisor a commission. In general, these are separate contracts with that product sponsor. Most of the time, commissions will not come out of your investment or contribution and are separately handled by the sponsor. The use of commission-based products will be taken into consideration when determining the fee structures mentioned above. Our clients have the right to request a waiver of commission-based products and, if this option is selected, adjustments will be made to the above-mentioned fee programs.

Oaks Wealth Management intends to blend the use of fee-based and commission-based programs to provide our clients with a fair and agreeable fee solution for all parties.