Clarity Financial, operating as Jarvis M. Reeves III, provides financial planning services and refers clients to third-party investment managers (TPMs) for portfolio management. Clarity Financial gathers information about your financial situation and objectives, then recommends a suitable TPM. They monitor the TPM's performance to ensure it aligns with your goals. Clarity Financial also provides ERISA plan services, acting as a limited scope fiduciary to help plan sponsors with investment decisions.
Fee Structure
Clarity Financial does not directly manage your investments. Instead, they recommend third-party managers (TPMs) who will manage your portfolio. The fees you pay will depend on the specific TPM you choose and the type of portfolio they manage. Here's a general overview of the fee structure for Gradient Investments, LLC (GI), one of the TPMs Clarity Financial recommends:
Strategic & Tactical Portfolios:
- Up to $1,000,000: 2.00% total (1.00% to GI, 1.00% to Clarity Financial)
- $1,000,001 - $2,000,000: 1.65% total (.80% to GI, .85% to Clarity Financial)
- $2,000,001 - $3,000,000: 1.20% total (.60% to GI, .60% to Clarity Financial)
- Over $3,000,000: .95% total (.45% to GI, .50% to Clarity Financial)
Allocation Portfolios:
- Up to $1,000,000: 1.70% total (.70% to GI, 1.00% to Clarity Financial)
- $1,000,001 - $2,000,000: 1.35% total (.60% to GI, .75% to Clarity Financial)
- $2,000,001 - $3,000,000: 1.00% total (.50% to GI, .50% to Clarity Financial)
- Over $3,000,000: .80% total (.40% to GI, .40% to Clarity Financial)
Preservation Portfolios:
- All Assets: 1.00% total (.40% to GI, .60% to Clarity Financial)
Client Directed Accounts:
- All Values: .60% total (.30% to GI, .30% to Clarity Financial). Minimum quarterly fee of $25.
These fees are negotiable and assessed quarterly. GI also charges a $15 administrative fee quarterly.