Stevens Wealth Management receives no commissions, referral fees or expense reimbursements from any of our recommendations. We align our fees with how your portfolio performs.

Typically, if your portfolio grows in value, so do our fees. If your portfolio loses value, our fees will generally drop. We do have minimum fees in most cases to make sure we can cover our costs.

If we manage more than one million dollars for you, financial planning is included. Otherwise we set separate fees for financial planning services that you choose. You can choose as much or as little as you need. Everything is customized.

Assets are custodied at Charles Schwab. Schwab holds any mutual fund, individual stock or bond, or exchange traded fund we may recommend. They provide you with monthly statements showing your accounts as well as online access. You can also have apps for your phone or tablet that show your accounts and allow you to make some transactions.

Our fees do not include any brokerage fees at Schwab. We do negotiate with them to provide you with lower fees than you may be able to get as a retail client. We also provide you with access to funds that we have as an institutional advisor that you wouldn’t have on your own.

Mutual funds have expense ratios that are also not included in our fees. We use no-load or waived-load funds only. We often use low-cost fund families like Vanguard and DFA (Dimensional Fund Advisors) so that your costs stay low. Any expense ratio charged goes to the fund family, not us. Any transaction fees at Schwab, for example wire transfers, go to Schwab, not us.

 

Asset Management Fee Schedule

First $1,000,000 0.95%
$1,000,001 – $2,000,000 0.80%
$2,000,001 – $5,000,000 0.70%
$5,000,001 – $10,000,000 0.50%
Over $10,000,000 0.35%

The portfolio management fee is calculated on a “tiered” basis.  This means that the first $1 million dollars under management is charged 0.95%; the next $1 million under management is charged 0.80%; the next $3 million under management is charged 0.70%; the next $5 million under management are charged 0.50%; and assets above $10 million are charged 0.35%.

Example:

Assets under management: $3,000,000
First $1,000,000 = $1,000,000 x 0.95% = $9,500
From $1,000,001 to $2,000,000 = $1,000,000 x 0.80% = $8,000
From $2,000,001 to $3,000,000 = $1,000,000 x 0.70% = $7,000
Total annual fee = $24,500
Total quarterly fee = $6,125