Common Questions About Working With a Fee-Only Financial Advisor

A fee-only advisor is paid exclusively by the client — not by commissions, referral fees, or product sales. That means our recommendations aren't influenced by what pays us the most. We give advice based on what makes sense for your situation, full stop.

This is different from fee-based advisors, who charge a fee but can also earn commissions on products they sell. The distinction matters more than it sounds — it determines whose interests are truly being served when a recommendation is made.

An AUM (assets under management) fee is a percentage of your portfolio — often around 1% annually, though rates vary by firm and portfolio size. The dollar amount you pay grows every time your portfolio grows, even if the work your advisor does stays the same.

A flat fee is a fixed annual amount regardless of portfolio size. At Sevey Wealth, our planning fee is $10,000/year, billed quarterly. Whether your portfolio is $2 million or $10 million, the fee doesn't change.

A fiduciary is legally and ethically required to act in your best interest — not their firm's, not their broker-dealer's, and not in the interest of a product manufacturer paying them a commission. Registered Investment Advisors (RIAs) like Sevey Wealth are held to the fiduciary standard at all times.

Not all financial professionals are fiduciaries. Brokers and insurance agents are often held to a lower "suitability" standard, which leaves room for conflicts of interest. When someone is working on your retirement, your taxes, and your estate, the fiduciary standard isn't a nice-to-have. It's the baseline.

The annual fee covers the full planning relationship — every client, regardless of portfolio size, receives the same complete scope of work:

Retirement income planning, tax-smart withdrawal strategies and Roth conversion analysis, Social Security optimization, goals-based investment management, Medicare and IRMAA planning, estate and legacy coordination with your CPA and attorney, and unlimited access to Sean throughout the year — calls, emails, and meetings, no additional charge. Quarterly reviews and an annual comprehensive plan update are included as standard.

There are no add-on fees, no hourly charges for extra meetings, and no cost for coordinating with your other professionals.

The only additional costs are the expense ratios of any investment funds held in your portfolio — standard fund-level fees, typically very low (often under 0.10% for index funds). These are not charged by us. We don't earn anything from fund selection, and we use low-cost, institutional funds wherever possible.

Most of our clients are households with $2 million to $20 million in wealth — often in their 50s or 60s, approaching or in retirement. Some are still building; others are transitioning out of a career or a business. What they have in common is that their financial picture has gotten complex enough that they want a real planning partner, not just a portfolio manager.

We also work with people navigating major life changes — a business sale, a divorce, an inheritance, the loss of a spouse — where decisions need to be made quickly and across multiple areas at once.

We don't have a hard asset minimum, but our flat fee is most cost-effective for households with at least $1.5–2 million in investable assets. Below that threshold, a lower-cost option may serve you better — and we'll say so honestly if that's the case.

Yes. While we're based in Austin, we work with clients across Texas and beyond through virtual meetings. Geography has never been a barrier to a good planning relationship, and most of our ongoing client work happens remotely regardless of location.

Not at all — it's a common starting point. Many of our clients were self-directed investors who did well on their own, but reached a point where the tax interplay, account coordination, and retirement income decisions got complex enough that they wanted a real second opinion. We work well as a collaborative partner for people who still want to stay involved and understand every decision.

Yes, and we'd encourage it. Financial plans work better — and families navigate transitions better — when both spouses understand the picture. All planning work is done for the household, and we make it a point to communicate in a way that works for both partners, regardless of how involved each has been historically.

The first conversation is just that — a conversation. No presentation, no pitch, no product recommendation. We talk about where you are, what you're trying to accomplish, and what's keeping you up at night financially. We'll also explain how we work so you can decide if it's the right fit. There's no obligation.

If we move forward, the next step is a deeper discovery process where we gather the full picture — accounts, tax returns, estate documents, insurance — and build a comprehensive financial plan from there.

Most clients have quarterly check-ins, with additional conversations as needed when something changes — a job transition, a market event, a tax decision with a deadline. You're never waiting for a scheduled review to ask a question. Email and phone access is part of the relationship year-round.

Yes — and we think this is one of the most underrated parts of a good planning relationship. Tax decisions, estate decisions, and investment decisions don't exist in silos. We're comfortable working alongside your existing professionals and will loop them in proactively when it matters.

That's exactly when having a planning relationship matters most. A business sale, an inheritance, a divorce, a market correction — these are the moments where having a trusted advisor who knows your full picture is genuinely valuable. We don't charge extra for navigating major transitions; it's part of what the annual fee covers.

Book a 20-min Fit Call. It's free, there's no sales pressure, and it's the fastest way to find out whether the way we work matches what you're looking for. Most people know within that first conversation whether it feels right.

Absolutely. A lot of people come to us while still in an existing advisory relationship — questioning the value, the fee structure, or simply wanting a second opinion. We're happy to have that conversation without any pressure to switch. If your current advisor is genuinely the right fit, we'll tell you that.

Start with the Insights page. We publish straightforward articles on retirement planning, tax strategy, and investment decisions that give you a real sense of how we think. When you're ready to talk, the door is open.