Cove Financial Planning is a registered investment advisor founded in 2019 and based in Wayzata, Minnesota. The firm provides continuous portfolio management tailored to each client's individual needs and risk tolerance, primarily utilizing passive investment strategies with index mutual funds and exchange-traded funds. In addition to managing investments, Cove Financial Planning offers comprehensive financial planning covering areas such as retirement planning, cash flow and debt management, tax strategies, estate planning, insurance analysis, college savings, and employee benefits optimization. The firm also offers the option to use third-party managers for portfolio management. Cove Financial Planning is legally required to act in your best interest as a fiduciary and does not have an account minimum requirement.
Fee Structure
Portfolio-Based Fees (Tiered)
| Portfolio Value | Annual Fee |
|---|---|
| Up to $1.0M | 0.95% |
| $1.0M - $2.0M | 0.80% |
| $2.0M - $3.0M | 0.70% |
| $3.0M - $5.0M | 0.50% |
| $5M+ | 0.30% |
Fees are negotiable and paid quarterly in arrears. There is a minimum quarterly advisory fee of $2,500. Comprehensive financial planning is included in the annual advisory fee.
