Purpose-Built Planning Explained.
(and why we don’t charge brokerage commissions and retail investment fees*)
Before we started LeConte, Kevin and I used to be brokers so we know the true costs that brokerage clients pay. The biggest problem for brokers is the inevitable conflicts of interest. You can’t be a broker (and adhere to brokerage rules) and escape them.
We wanted to find a better way to be objective and help clients. That choice created a big change and a big opportunity.
In 2013, we dropped our brokerage licenses, rejected the commission-based model and built LeConte into a Registered Investment Advisory (RIA) firm.
What’s the difference?
In exchange for the freedom from the brokerage conflicts of interest, Registered Investment Advisors cannot accept or charge brokerage commissions and hidden fees (12b-1 fees). This is the most obvious, surface level difference. We also agreed to hold our advice up to the Fiduciary Standard of care which is a higher level of commitment to our clients.
We accept the responsibility to act in our clients best interests, “in all matters, at all times”. It is our LEGAL obligation as advisors.
Our next move was a game-changer. Jon Dockery, a respected local CPA, joined LeConte in December 2015 and we added his tax expertise to our wealth management practice.
What’s the Benefit to You?
A relationship with a financial advisor that is only based on one thing - your financial goals. We bundled the three most crucial financial services together to create a cost effective way for anyone to pursue financial freedom. We kept it simple. In the past, the average investor paid separate providers for financial products and tax preparation through a mix of commissions and hourly fees.
At LeConte our clients pay an asset-based fee for all of these services and that’s it. No accountant charges, no brokerage commissions, no annual charges on retirement accounts, no hidden broker fees.
We topped it all off with the best financial planning technology available. We create an individualized online portal that connects all of your financial assets together. This provides not only anywhere, anytime access but allows you to easily view your financial progress in real time.
We call it Purpose-Built Planning and it’s a great opportunity for anyone to make their financial life less complicated and more fulfilling. Our experienced staff of financial professionals work with you to identify your best path to financial freedom and then walk along with you to make sure you stay on track.
Are you Ready to Get Started?
You have to take the first step. Get your stuff together and give us a visit. Or click on the get started button and answer a few questions and we will contact you. We will provide you with a $400 initial consultation at no cost or obligation.
If you are an investment client with another bank, brokerage of insurance firm, we will reveal the commissions, management fees and hidden costs that are already paying. Odds are, this will be close, if not more than the typical LeConte advisory Fee. (click to review our tiered advisory fee schedule)
Let's Get Started
These are fees you would not pay directly, but which are taken out of a mutual fund's assets to pay to market and distribute its shares. For example, asset-based sales charges can be used to compensate a broker for the sale of mutual fund shares, for advertisements and to print copies of the prospectus. Asset-based sales charges include Rule 12b-1 fees, which are dedicated to these types of distribution costs.
LeConte Advisory Fee Schedule.
Our advisory fee includes custody services, fiduciary asset management, tax preparation, client concierge service, real time portfolio analytics, account aggregation and mobile access. It is the only investment compensation we receive from our clients.
|Total Household Asset Size||Total Yearly Advisory Fee||Blended Fee|
|$501,000-$1,000,000||1.25% (,25% fee break)||1.375%|
|$1,000,001-$2,000,000||1.10% (.25% fee discount)||1.2375%|
|$2,000,001-$5,000,000||1.00% (.15% fee discount)||1.095%|
|$5,000,001 and greater||.90% (.10% fee discount)|
LeConte bills on the household level, which means that if you have several accounts they can be aggregated. For example, if you have a $200,000 Joint account, a $450,000 IRA and a $50,000 Rollover IRA, you will be billed on $700,000, saving you 0.25% per year in fees!