Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Individuals & Small Businesses
- Pension Consulting Services
- Selection of Others Advisors
- Educational Seminars & Workshops
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
- Charitable Organizations
- State & Municipal Govt Entities
- Insurance Companies
- Corporations or Other Businesses Not Listed Above
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Hourly
- Fixed Fees (Other than subscription)
Wealth Management Group Overview
Wealth Management Group is an investment advisory firm that offers their clients investment advice. As a fee-only firm, their goal is to provide unbiased financial advice without the influence of commission-based compensation. They are based in Rochester, NY and have been in business since 2019, providing their clients with exceptional service since their inception. Their portfolio management services are available to both individuals and small businesses, helping their clients to create investment plans that are tailored to their unique needs and goals. They also offer pension consulting services that help businesses select and manage their retirement benefits plans. Wealth Management Group offers educational seminars and workshops to help their clients better understand the world of investing. This is yet another example of their dedication to their clients and their desire to help them achieve long-term financial success. Additionally, they offer help with selecting other advisors, ensuring that their clients have access to a full range of investment options and expert advisors on whom they can rely.
WEALTH MANAGEMENT GROUP caters to a diverse range of clients from individuals to high net worth individuals, pension or profit sharing plans, charitable organizations, state or municipal government entities, insurance companies, and other corporation types not listed. The firm offers personalized investment strategies tailored to meet the unique needs and goals of each client. Clients can expect to receive expert guidance on various investment products and services, including mutual funds, exchange-traded funds, bonds, stocks, and specialized investments. WEALTH MANAGEMENT GROUP provides flexible fee structures based on the type of service provided. Clients may choose from percentage of Assets Under Management (AUM), hourly rates, or fixed fees. Percentage of AUM is the most common fee structure where the firm earns a predetermined percentage of the total assets managed for the client. This fee structure incentivizes the firm to grow the client's assets since the firm's compensation is tied to the AUM. The hourly rate fee structure is charged for consulting services such as financial planning or investment advice. Fixed fees are a predetermined charge for a specific service or set of services. Clients can expect transparent and competitive fee structures at WEALTH MANAGEMENT GROUP.
Typical Clients, Fee Structures & Investment Minimum
The investment minimum for WEALTH MANAGEMENT GROUP is generally $250,000, according to their Part 2 Brochure note about investment minimums. The firm requires this minimum relationship size to effectively implement its investment process. However, the investment minimum may be reduced at the sole discretion of the Advisor.
How This Office Can Help Monroe County, NY Residents
Wealth Management Group, LLC is an established financial management firm that offers financial planning and investment management services to clients located in Monroe County, NY. They assist clients in achieving their financial goals by offering customized solutions that meet their individual needs and requirements. Living in Monroe County, NY, one might face a variety of financial situations such as planning for retirement, investing in education, managing taxes, and dealing with changing family circumstances, such as marriage or divorce. Wealth Management Group's team of experienced financial experts helps clients navigate these complex situations by providing personalized advice, asset allocation, and investment management services. They also assist clients in creating a long-term financial plan that is tailored to their specific financial goals and objectives. Wealth Management Group, LLC helps clients in Monroe County, NY to achieve their financial dreams and secure their financial futures.
Services Offered by 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 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
Firm Headquarters
This firm has no other locations.
State Registrations
Wealth Management Group is registered to service clients in the following states:
- Florida
- New York
- Texas
Disciplinary History
Wealth Management Group does not have any disclosures. Please visit it's Form ADV for more details.