Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Individuals & Small Businesses
Types of Clients
- Individuals (Not High Net Worth)
-
Individuals High Net Worth
*>=750k in Investable Assets or >=1.5m of Estimated Total Net Worth
- Pension & Profit Sharing Plans
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Hourly
- Fixed Fees (Other than subscription)
Payant Wealth Management Group Overview
Payant Wealth Management Group is a fee-only Registered Investment Advisory (RIA) firm that provides investment advice exclusively to its clients. Their headquarters are located in Sun City Center, Florida, and they have been in business since 2018. As a fee-only firm, Payant Wealth Management Group does not receive any commissions or incentives for recommending particular investments, ensuring that their clients receive impartial investment advice. The firm specializes in financial planning and portfolio management, catering to the needs of both individuals and small businesses. Its financial planning services cover a wide range of topics, including retirement planning, tax planning, estate planning, and risk management. Their portfolio management services focus on constructing and managing investment portfolios that align with clients' financial objectives, risk tolerance, and investment horizon. As an RIA firm that offers investment advice only, Payant Wealth Management Group adheres to strict regulatory standards and operates with a fiduciary duty to act in its clients' best interests. This means that they are legally and ethically obligated to provide advice that is in the best interest of their clients and to avoid conflicts of interest that could compromise their clients' financial well-being. Overall, Payant Wealth Management Group is a trustworthy and competitive firm that offers financial planning and investment management services to help individuals and small businesses achieve their financial goals.
PAYANT WEALTH MANAGEMENT GROUP caters to a diverse range of clients, including individuals, high net worth individuals, and pension or profit sharing plans. The firm understands that clients have different financial needs, goals, and lifestyles. As such, they provide tailored financial planning and investment management solutions that are appropriate for each client's unique circumstances and objectives. PAYANT WEALTH MANAGEMENT GROUP believes that every client deserves personalized attention and unparalleled service, regardless of their financial status or investment goals. When it comes to fee structures, PAYANT WEALTH MANAGEMENT GROUP offers options that suit different clients' preferences and needs. The firm charges a percentage of assets under management (AUM), which is a common fee structure in the industry. Alternatively, clients can opt for hourly fees, which are charged for specific services rendered, such as financial planning or portfolio review. Lastly, fixed fees are a possibility for those who prefer a predictable and stable fee structure for their tailored financial solutions. PAYANT WEALTH MANAGEMENT GROUP believes in being transparent about their costs, ensuring that clients have a clear understanding of the fees associated with their services. Ultimately, the firm's goal is to help clients achieve their financial aspirations and secure their long-term financial well-being.
Typical Clients, Fee Structures & Investment Minimum
The investment minimum for Payant Wealth Management Group is $50,000 to open and maintain an Advisor Managed Portfolio. This information is cited in their Part 2 Brochure note about investment minimums which states, "A minimum of $50,000 to open and maintain an Advisor Managed Portfolios."
How This Office Can Help Sun City Center, FL Residents
Payant Wealth Management Group provides comprehensive financial planning and investment management services to clients in Sun City Center, FL. With extensive experience in working with retirees and pre-retirees, the firm understands the unique financial situations that residents in this community may face. Many individuals in Sun City Center are likely to have retirement savings as their primary source of income, and Payant Wealth Management Group helps them navigate the complexities of transitioning from saving to spending. The firm works with clients to create personalized retirement income plans that help ensure their money lasts through their lifetime while also preserving their wealth and providing for future needs, such as long-term care. Additionally, Payant Wealth Management Group can provide guidance on estate planning, tax strategies, and other financial concerns that are particularly relevant for those entering or already in retirement. By working closely with clients to understand their goals, concerns, and risk tolerances, the firm strives to help clients achieve financial security and peace of mind.
Services Offered by Payant Wealth Management Group
Core Advisor Services
Financial Planning
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.
Other Services
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.
Fee Structures
Financial advisory fees usually are based on the services provided. Fee types charged by Payant Wealth Management Group 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.
Available
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.
Hourly
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.
Unavailable
Subscription (Newsletter or Periodical)
Commissions
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.
Performance-based Fees
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.
A hedge fund earns a 15% return with a 20% performance fee in above the performance of the S&P 500, which grew 7% that same year.
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).
Other
Firms occasionally offer unconventional fee structures when charging clients. For more detailed information about a firm’s specific fee structures, please refer to their Form ADV and Part 2 Brochure.
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.
This Office Location
Other Office Locations
This firm has no other locations.
State Registrations
Payant Wealth Management Group is registered to service clients in the following states:
- Florida
- Georgia
- Michigan
- New Hampshire
- New Jersey
- New York
- Pennsylvania
- Texas
Disciplinary History
Payant Wealth Management Group does not have any disclosures. Please visit it's Form ADV for more details.