We feel it is critical for our clients to understand what they are paying for and how they are paying for it. Our goal is to be as transparent as possible when discussing compensation for our advice and services.

Regardless of what brings a prospective client to BDMP Wealth Management, typically, we have a complimentary initial meeting where we get to know one another a bit. If we jointly decide that our services would be useful, we will use the information gathered during the meeting to draft a proposal outlining what we view as the nature of the services to be provided and the cost.

BDMP Wealth Management is generally compensated for services in two ways: financial planning fees and implementation fees (including investment management services). By separating these fees, our goal is to make it clear that compensation for planning does not depend upon the client's decision to engage BDMP Wealth Management to provide any additional services.

Financial Planning Fees:

In a planning engagement, the fee is generally a fixed fee (i.e., project fee) that is based on our client's family and financial situations as well as the complexity of the issues. We are willing to discuss an hourly or other fee arrangement, if warranted, based on the client's situation. For planning-only clients, on-going planning and updates are available on a retainer basis.

Implementation Fees:

Investment Management: BDMP Wealth Management's fee for investment management services is a percentage of the assets under our management. The percentage varies depending on the value of the accounts and the extent to which we are to provide on-going personal financial planning services. Generally, the greater the value of the investments we are managing, the lower the percentage paid.

Insurance: Most insurance products pay a commission to the agent who places the policy. It costs the client no more to have a policy placed by one agent rather than another. Where BDMP Wealth Management acts as the agent, the commission is a part of our compensation. Where a "low-load" or "no-load" insurance vehicle is the appropriate choice for the client, any fee paid by the client will be disclosed in advance.