Planning and investments, in one relationship.
Wealth Management brings planning and investment management together; planning-only engagements fit other needs. Fees are below.
Wealth Management
Ongoing planning across the seven areas below, and management of your investment accounts, for one fee. Not every household needs every line; together we decide where the attention goes. The plan counts everything you own: the accounts Toft manages, those held elsewhere, and assets that are not accounts.
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.
Portfolios that serve the plan.
Each portfolio is broadly diversified, low in cost, implemented with discipline, and takes only as much risk as the plan needs. The aim is an allocation you can hold through good markets and poor ones.
Existing holdings, taxes, and cash needs are reviewed before anything is sold.
Custodian
Charles Schwab & Co., Inc. 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, placed across taxable and retirement accounts with tax in mind, and rebalanced to its targets over time. Money needed soon is set aside rather than sold in a poor market.
Review
Reviewed each quarter by Clark, and with you at your two planning meetings each year; statements come from Schwab. Fund and custodian costs are separate from Toft’s fee and kept low.
Planning without investment management.
Ongoing Planning is a continuing planning relationship covering the same seven areas as Wealth Management, put into practice by you with Toft’s guidance.
Project Planning is 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.
Pro Bono Planning offers a limited number of project engagements for households who could not otherwise afford financial advice. The scope is agreed the same way.
What it costs.
For Wealth Management, each rate applies only to the assets within its tier, like tax brackets, so the overall rate falls as assets grow. A household’s managed accounts are added together. There is no account minimum. The minimum annual fee is $3,000; for unusually complex households, a higher minimum of up to $10,000 is agreed in advance.
Wealth Management fees are billed at the end of each month from the managed accounts. Planning is included. Either of us may end the relationship with 15 days’ written notice.
Wealth Management
First $1M
1.00%
$1M to $5M
0.75%
$5M to $10M
0.55%
$10M to $25M
0.40%
Over $25M
0.30%
Planning only
Ongoing Planning
$3,000 to $40,000
A year, set by scope and complexity · billed at the end of each month · 15 days’ written notice to end
Project Planning
$3,000 to $12,000
A fixed fee · part paid at the start, the rest on completion
Pro Bono Planning
No fee
Limited availability
Start with a call.
A free 30-minute conversation with a fee-only, independent fiduciary. By phone or video; bring only your questions.