Wolakota Financial Advisors provides various advisory services, including psychological counseling, tax preparation and planning, portfolio management, and comprehensive financial planning. Michael Rudy, the sole advisor, offers a free initial consultation to understand client needs and objectives. For investment management, Wolakota Advisors operates with discretionary authority, making recommendations using various securities. Financial planning services involve a comprehensive process, including goal setting, tax planning, and estate planning. Clients can renew their agreements annually.
Fee Structure
Wolakota Advisors provides investment management services, with fees included in the comprehensive financial planning retainer. The retainer fee ranges from $2,500 to $12,000 for the first year, based on income, net worth, and tax complexity. Renewal fees range from $2,000 to $8,000. There are no additional fees for investment advisory services beyond the retainer, though investment firms or mutual funds may have their own fees. Clients can also pay an hourly fee of $250/hour for investment advice.