Penney Financial, LLC is a fee-only financial advisory firm that provides comprehensive financial planning, hourly consultations, and ongoing service options. They offer asset management services on a discretionary basis as a percentage of assets under management. Clients can choose from three service levels: Contributor (hourly), Consultant (ongoing advice based on net worth), and Confidant (asset management and financial planning). Penney Financial primarily invests client assets in ETFs and mutual funds.
Fee Structure
Portfolio-Based Fees (Tiered)
| Portfolio Value | Annual Fee |
|---|---|
| Up to $1.5M | 0.65% |
| $1.5M - $3.0M | 0.55% |
| $3.0M - $5.0M | 0.45% |
| $5.0M - $10.0M | 0.35% |
| $10M+ | 0.28% |
The fee is deducted from client accounts monthly in arrears and is based on the average daily balance of the billing period. If the client recently completed a Financial Plan (within 60 days), the first 12 months may be discounted at the Firm’s discretion up to 100% of the previously completed Financial Plan cost.