Black Financial Planning provides financial planning services and refers clients to third-party investment managers (TPMs). Financial planning covers topics like financial goals, net worth, cash flow, retirement, risk management, investments, taxes, and estate planning. Black Financial Planning monitors the performance of the TPMs they recommend. They receive referral fees from the TPMs.
Fee Structure
Black Financial Planning does not directly manage your investments. Instead, they recommend third-party managers. If you use a third-party manager, you'll pay them a percentage of your portfolio each year. Black Financial Planning receives a portion of that fee for the referral. Here are the annual fees charged by the third-party manager, Gradient Investments, LLC, along with the portion Black Financial Planning receives:
- Strategic Portfolios: 2.00% total (1.00% to Gradient Investments, 1.00% to Black Financial Planning)
- Tactical Portfolios: 1.80% total (0.80% to Gradient Investments, 1.00% to Black Financial Planning) plus internal ETF fees of 0.20%
- Allocation & Defined Outcome Portfolios: 1.70% total (0.70% to Gradient Investments, 1.00% to Black Financial Planning)
- Preservation Portfolios: 1.00% total (0.40% to Gradient Investments, 0.60% to Black Financial Planning)
- Private Wealth Portfolios: 1.50% total (0.50% to Gradient Investments, 1.00% to Black Financial Planning)
- Client Directed Accounts: Flat fee of $300 to Gradient Investments, $0 to Black Financial Planning
These fees are negotiable. There is also a $15 quarterly technology fee.