Wealth Enhancement Group (2024)

FAQs

Wealth Enhancement Group? ›

Wealth Enhancement Advisory Services charges an hourly rate of up to $600 an hour or a flat fee of between $250 to $25,000 for a plan, depending on the complexity. For retirement plan consulting, Wealth Enhancement Advisory Services charges either up to $600 per hour or an asset-based fee of up to 1%.

Wealth Enhancement Advisory Services charges an hourly rate of up to $600 an hour or a flat fee of between $250 to $25,000 for a plan, depending on the complexity. For retirement plan consulting, Wealth Enhancement Advisory Services charges either up to $600 per hour or an asset-based fee of up to 1%.

Wealth Enhancement Group, as a fiduciary, has a long history of providing unbiased, independent advice to plan sponsors. We collaborate with you in the areas of prudent investment practices including plan governance, investment due diligence and ongoing monitoring.

We are a top 5 National RIA* who creates a complimentary, detailed financial plan for every potential client. Our local presence is backed by our national Roundtable™ Specialists, who strive to provide extraordinary care with each comprehensive financial plan.

Jeff Dekko, Chief Executive Officer.

But, if you're already working with an advisor, the simplest way to determine whether a 1% fee is reasonable may be to look at what they've helped you accomplish. For example, if they've consistently helped you to earn a 12% return in your portfolio for five years running, then 1% may be a bargain.

Some traditional financial advisors have minimum investment amounts they require to work with clients. These can range from $20,000 to $500,000 or even more. Why? Because their fees need to cover their time and expertise, and managing smaller portfolios may not be cost-effective for them.

About Wealth Enhancement Group

Wealth Enhancement proudly provides unique financial plans and investment management services to over 61,000 households from its 115 offices - and growing - nationwide. For more information, please visit www.wealthenhancement.com.

Under fiduciary funds, there are Custodial funds, Investment Trust funds, Pension Trust funds and Private Purpose Trust funds.

Where is Wealth Enhancement Group headquartered? Wealth Enhancement Group is headquartered in Plymouth, MN.

Who are the competitors of the Wealth Enhancement Group? ›

Wealth Enhancement Group has approximately 1.1K employees as of April 2024. These team members are located across 4 continents, including North AmericaAfricaEurope.

The Key Differences

Fiduciary standard: RIAs are fiduciaries, always required to act in their customers' best interests. While some financial advisors may also be fiduciaries, not all are bound by this duty. Compensation: As fiduciaries, RIAs typically use fee-only or fee-based models.

With over two decades of experience in the financial industry, he has established himself as a respected leader of investment strategies and wealth management. Rob is a frequent commentator on financial and economic issues, and his insights have been featured on CNBC, Fox Business, and Bloomberg TV, among others.

Wealth Club was founded in 2016 by Alex Davies, a former Hargreaves Lansdown director and shareholder and current Chief Executive of Wealth Club. The senior management has years of investment and industry experience.

Marlena Sonn, CFP(r), is the President and Founder of Amazonia Wealth Management, LLC, a New York City based firm. Marlena, a graduate of Barnard College, Columbia University, is a Certified Financial Planner™, and has fourteen years of experience in the financial services industry.

Since financial coaches do not usually handle a client's investments, they typically do not charge based on assets under management, which is a common fee model among financial advisors. Some financial coaching packages can cost thousands of dollars a year. Coaching rates are typically between $100 to $300 an hour.

On average, you can expect to pay between 0.5% and 2% of your total assets under management annually, $150 to $400 per hour, or a flat fee ranging from $1,000 to $3,000 for a comprehensive financial plan.

FCA research shows that average charges across the financial planning profession are 2.4% of the amount invested for the initial advice and 0.8% per annum for ongoing advice (FCA Evaluation of RDR Report, December 2020).

The decision to use a wealth manager depends on your financial situation, goals, and expertise. You might not need a wealth manager if you have clear goals and are confident you can create and implement strategies to protect and grow your wealth.