- Financial Planning
- Portfolio Management for Individuals & Small Businesses
- Portfolio Management of Pooled Investment Vehicles
- Portfolio Management for Businesses or Institutional Clients
- Selection of Others Advisors
Types of Clients
- Individuals (Not High Net Worth)
Individuals High Net Worth
*>=750k in Investable Assets or >=1.5m of Estimated Total Net Worth
- Pooled Investment Vehicles
- Charitable Organizations
- Corporations or Other Businesses Not Listed Above
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Fixed Fees (Other than subscription)
Durbin Bennett Private Wealth Management, LLC Overview
Durbin Bennett Private Wealth Management, LLC is a registered investment advisory firm that specializes in providing investment advice. Founded in 2001, the firm has been offering its financial services to clients for almost two decades. Headquartered in Austin, Texas, Durbin Bennett Private Wealth Management provides its services on a fee-only basis. The firm offers a range of investment advisory services, including financial planning, portfolio management for individuals and small businesses, and portfolio management of pooled investment vehicles. Additionally, Durbin Bennett Private Wealth Management provides portfolio management services for businesses or institutional clients. The firm also provides selection of other advisors to clients who may need specialized investment advice that Durbin Bennett cannot provide. Durbin Bennett Private Wealth Management is known for its consulting services, which help clients make informed investment decisions. The firm offers a range of consulting services, including risk management, portfolio analysis, and investment strategy development. Durbin Bennett Private Wealth Management is dedicated to providing clients with the knowledge and support they need to succeed in their financial goals. With a focus on investment advice only, Durbin Bennett Private Wealth Management is well positioned to help clients navigate the complex world of investment management.
DURBIN BENNETT PRIVATE WEALTH MANAGEMENT, LLC caters to a variety of clients, including individuals, high net worth individuals, pooled investment vehicles, charitable organizations, and other corporation types not listed. These clients have varying financial needs, and the firm prides itself on its ability to provide tailored services that meet their unique requirements. When it comes to fee structures, DURBIN BENNETT PRIVATE WEALTH MANAGEMENT, LLC offers several options depending on the service provided. One option is a percentage of assets under management (AUM), which is a fee based on the amount of money managed by the firm. Another option is hourly fees, which are charged for specific services and tasks performed. Fixed fees may also be available, which are set amounts for a particular service or package of services. Finally, other types of fees may be offered in certain situations, allowing clients to choose the structure that best suits their needs and budget. The firm is committed to transparency and will always thoroughly outline the fee structure for each client so that they understand exactly what they are paying for.
Typical Clients, Fee Structures & Investment Minimum
According to the Part 2 Brochure of Durbin Bennett Private Wealth Management, LLC, there is no mention of an investment minimum.
How This Office Can Help Austin, TX Residents
Durbin Bennett Private Wealth Management assists clients in Austin, TX, by providing personalized financial planning and investment services. With their comprehensive financial approach, they help clients navigate through various financial situations, whether they are planning for retirement, saving for their children's education, or managing their wealth. Living in Austin, TX, someone might be facing various financial challenges, such as managing student loans, saving for a down payment on a home, or planning for a child's future. Durbin Bennett Private Wealth Management can assist clients with these challenges by creating a customized financial plan tailored to their unique needs and goals. Whether it’s creating a budget, building an investment portfolio, or managing debt, Durbin Bennett Private Wealth Management helps clients make smart financial decisions for a secure financial future.
Services Offered by Durbin Bennett Private Wealth Management, LLC
Core Advisor Services
Financial planning services encompass the process of devising strategies for your future financial well-being, including preparing for events such as retirement, funding your child's college education, or planning for the transfer of assets.
Portfolio Management for Individuals & Small Businesses
Portfolio management entails the careful selection and strategic management of investment combinations tailored to meet the needs of individuals and small businesses.
Market Timing Services
Market timing services involve the endeavor to generate short-term profits from investments by capitalizing on opportunities to buy at low prices and sell at high prices.
Selection of Other Advisors
The firm provides support in selecting and engaging other advisors who possess specialized expertise to complement your financial needs.
Publication of Periodicals or Newsletters
The firm engages in the dissemination of diverse financial educational materials through the publication of periodicals.
Educational Seminars & Workshops
The firm organizes and conducts seminars or workshops aimed at enlightening investors on various financial concepts.
Financial advisory fees usually are based on the services provided. Fee types charged by Durbin Bennett Private Wealth Management, LLC most likely consist of the following fee types: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the firm.
Percentage of Assets Under Management (AUM)
This fee structure charges a percentage of the assets under management by the firm. Fee structures are often tiered based on the amount of assets managed, with higher AUM often charged a lower rate.
Between 0.50% and 2.00% of assets under management (annually), often lower for a robo advisor. Fees are typically charged quarterly by the firm and will show on your investment statement. View typical advisor costs here.
~96% of registered firms offer this fee structure.
If you have $1 million managed by a firm at a 1% management fee, you would be charged $10,000/year to manage your assets (or $2,500 per quarter). This would be automatically deducted from your investment portfolio.
Similar to an attorney, a financial consultant might charge fees based on hourly rates. This fee structure can be advantageous when seeking specific or ad hoc advice.
Charges generally span from $150 to $400 per hour, depending on the extent of the services required.
~33% of registered firms offer this fee structure.
If you needed hourly consulting to sell a business or transfer your estate to your children but did not want your assets managed by a firm, you could consult a firm at an hourly rate to answer any questions you may have.
Fixed Fees (Other than subscription)
Fixed fees are a one-time, lump-sum payment rendered for a specific service, such as creating a financial plan without ongoing management or implementation. This option is beneficial if you solely require guidance for a particular objective rather than a long-term consultancy or asset management.
Fixed fees for creating a financial plan often range from $1,000 to $3,000.
~49% of registered firms offer this fee structure.
If you did not want a firm to manage your assets but needed to create a retirement plan, life transition plan such as divorce or loss of a spouse, estate transition plan, business financial plan, or any other financial planning, you could consult with an RIA firm to help you with the creation of that plan.
Subscription (Newsletter or Periodical)
Occasionally, advisors are compensated through commissions by selling certain financial products, such as mutual funds or life insurance policies, or as a broker-dealer by facilitating the buying and selling of securities. Advisors who receive commissions may be incentivized to make specific suggestions to clients in order to secure a commission. Advisors who operate on a fee-only basis do not earn commissions, whereas fee-based advisors may do so.
Often 3% - 6% of the value of the security.
Only ~3% of registered firms say they offer this fee structure, but other advisors may receive “soft dollars”. Many mutual funds charge 12b-1 fees to cover the promoting and selling of the fund’s shares. While your advisor does not charge these fees, they may receive a kickback for recommending the investment.
An advisor selling their client on a life insurance policy and receiving a commission on the sale of that policy, or recommending a specific investment and receiving a kickback for that recommendation.
Advisors typically obtain performance-based fees if a portfolio surpasses a predefined benchmark. This fee is determined through various methods, but is most commonly assessed as a percentage of investment gains. Performance-based fees may incentivize advisors to undertake riskier decisions in pursuit of generating higher returns.
“Two and Twenty” is common among hedge funds with a 2% management fee and a 20% incentive fee above the “hurdle rate,” or performance threshold the fund is compared against.
32% of registered firms offer this fee structure.
20% of fund growth in excess of S&P 500’s 7% growth for that year = 15% hedge fund growth - 7% S&P 500 growth = 8% difference x 20% = 2% performance fee (in addition to the management fee).
Types of Clients
*The Securities & Exchange Commission defines someone as “high net worth” if they have $750,000 or more in investable assets or $1.5M of estimated total net worth.
Other Office Locations
This firm has no other locations.
Durbin Bennett Private Wealth Management, LLC is registered to service clients in the following states:
- New York
Durbin Bennett Private Wealth Management, LLC does not have any disclosures. Please visit it's Form ADV for more details.