Services
One relationship. The whole picture.
Toft Wealth brings ongoing financial planning and investment management together in one relationship, built around the household. This page sets out what is included, how portfolios are run, and what it costs.
Primary service
Wealth Management
Planning and investments in one relationship, for households who want one advisor responsible for the whole picture.
The work begins by organizing the household’s financial picture: accounts, income, obligations, documents, and the decisions ahead. From there a plan is written, put into practice, and kept current as markets, laws, and life change.
Planning is included in the fee, with no account minimum. How the portfolios are run is described below.
What is included
The work, by area of the plat. Not every household needs every line; together we decide where the attention goes.
Vision
Goals and priorities
Vision
Goals and priorities What the money is for, agreed at the start and revisited as life changes.
Income
Retirement projection · Cash flow and reserves · Withdrawal order · Social Security and pensions
Income
Retirement projection What retirement will cost and how long the resources last, tested at the start and updated each year.
Cash flow and reserves Income and expenses, an emergency reserve, and debt in the right order.
Withdrawal order Which accounts to draw from first, and why.
Social Security and pensions When to claim and which option to elect, seen against the rest of the plan.
Investment
Managed accounts · Held elsewhere
Investment
Managed accounts Portfolios at Schwab, run as described below.
Held elsewhere Workplace plans, employer stock, HSAs, and 529s, counted in the plan: how much goes in, and where.
Tax
Roth conversions · Tax location and review · Tax return review
Tax
Roth conversions Whether, how much, and in which years, measured against lifetime taxes.
Tax location and review The right investments in the right accounts, and a yearly look at the tax picture while there is time to act.
Tax return review Last year’s return, read for what to change this year.
Insurance
Insurance review · Health coverage and Medicare
Insurance
Insurance review Life, disability, long-term care, liability, home, and auto coverage, checked against the risks that would upset the plan.
Health coverage and Medicare Which plan, when to enroll, and what care will cost in retirement.
Legacy
Estate documents · Giving · Survivorship
Legacy
Estate documents Wills, powers of attorney, trusts, and beneficiary designations, read against what you intend.
Giving How gifts to family and causes fit the plan, and the most tax-efficient way to make them.
Survivorship What happens to income, taxes, and the plan if one of you dies first, and what to arrange now.
Organization
Benefits and equity · Education savings · Documents and accounts
Organization
Benefits and equity Benefit elections, employer stock, and options, chosen with the whole picture in view.
Education savings How much to set aside, and in which account.
Documents and accounts Titling, account structure, and the household’s documents kept in one place.
The whole picture
Everything you own, in one picture.
A household’s wealth is rarely all in one place, or all in a portfolio. The plan works from the whole of it: the accounts Toft manages, the accounts held elsewhere, and the assets that are not accounts at all.
Managed by Toft
Taxable, joint, trust, IRA, Roth, and inherited accounts, held in your name at Charles Schwab and managed under the plan.
Held elsewhere
Workplace plans such as a 401(k), 403(b), or 457; employer stock and options; HSAs; 529 plans. They stay where they are, in your control, and the plan counts them.
Counted in the plan
Your home and other property, a business or farmland, pensions and Social Security, insurance, and money you expect to receive or give. Not investments Toft manages, but the decisions depend on them.
Investment management
Portfolios built to support the plan.
The portfolio’s job is to support the plan through changing conditions: broad diversification, low costs, disciplined implementation, and the household’s actual need for risk. The aim is an allocation that can be kept through good markets and poor ones.
Existing holdings, taxes, and cash needs are reviewed before anything is sold.
Stocks
Global, diversified, low cost
Bonds
Treasury and municipal
Cash
Set aside for withdrawals
Rebalanced to target
A portfolio, drawn like a plat: parcels sized to the plan, boundaries kept over time.
Custodian
Charles Schwab & Co. Accounts are opened in your name; Toft manages them within the plan, and you may set restrictions.
Holdings
Diversified, low-cost mutual funds and ETFs, with Treasury and municipal bonds and cash where they fit.
Allocation
Set by the plan’s need for risk and the timing of withdrawals, and rebalanced to its targets over time. Money needed soon is set aside rather than sold in a poor market.
Taxes
Asset location across taxable and retirement accounts, and care with cost basis when existing holdings come into the plan.
Review
Reviewed each quarter by Clark, and with you on a regular rhythm; statements come from Schwab. Toft is fee-only, and fund and custodian costs are separate and kept low.
Fees
A marginal schedule, billed monthly.
The schedule applies to Wealth Management. Each rate applies only to the assets within its tier, so the blended rate falls as the household grows, and a household’s accounts are added together to set it. There is no account minimum; the minimum annual fee is $3,000, and for unusually complex households a higher minimum, never above $10,000, is agreed in advance.
Fees are billed monthly in arrears from the managed accounts. Planning is included. Either of us may end the relationship with 15 days’ written notice.
First $1 million
1.00%
$1 million to $5 million
0.75%
$5 million to $10 million
0.55%
$10 million to $25 million
0.40%
Over $25 million
0.30%
Planning engagements
When a narrower scope fits better.
Both are planning without investment management. They fit households whose investments are managed elsewhere, or who need help with one decision rather than an ongoing relationship.
Ongoing Financial Planning
A continuing planning relationship covering the same seven areas as Wealth Management, put into practice by you with Toft’s guidance. Investment management is not included.
$3,000 to $40,000 a year, set by scope and complexity · billed monthly in arrears · 15 days’ notice to end
Project Planning
Focused advice on one decision or transition: a retirement date, an inheritance, a pension election, a home. The scope, the deliverable, and the fee are agreed before the work begins. Ongoing monitoring is not included.
A fixed fee of $3,000 to $12,000 · part paid at the start, the rest on completion
Pro Bono Planning
A limited number of planning engagements for households who could not otherwise get financial advice. The scope is agreed the same way.
No fee · limited availability
See whether the relationship fits.
A first conversation is a chance to discuss what kind of help you need and whether Wealth Management or a narrower planning engagement is the right fit.