Frequently Asked Questions
Yes. To ensure we can deliver the service clients deserve, One Life limits the number of clients a team can service to 100-150 (varies based on team size and planning experience).
- We want you to find the best possible solution and value for what you need. We believe that accepting referral fees is a conflict of interest that could result in you paying more than you need to for a product or service. If you need a referral, we are happy to make an introduction to professionals that can help you.
- We believe that this creates a conflict of interest and that referrals should only be received based on the type and quality of work that we do for our clients.
- Yes, we do not sell insurances or any financial products that pay a commission.
- We also do not provide tax or legal advice. However, we enjoy working with attorneys and accountants to ensure everyone understands your goals, current financial situation, and other key elements of your financial life plan.
Meetings can be held in person or online. If your meeting is online, we prefer that web cameras are turned on to improve the effectiveness of our meetings.
One Life takes a team approach to helping you develop your financial life plan. Team members have different specialties. Some team members will help you with administrative tasks such as system setup, getting organized, and scheduling. Financial Life Planners will help with One Life Coaching, developing your plan, and helping you stay accountable to your life goals (Targets). Portfolio managers will help provide wealth management services (researching your investments, rebalancing your company retirement plan, and performance maintenance (rebalancing, trading, etc) on your accounts.
It is common to have 1-3 meetings per year after the initial year. The intial year could have anywhere from 2-10 meetings depending on your needs and the complexity of your situation.
We work with custodians such as TD Ameritrade. In the event you are not able to connect with someone from our team, you can contact TD Ameritrade directly to request a trade and to withdraw funds from your account.
For new clients, the one-time fee typically ranges from $1,200 – $12,000. Fees are based on the complexity of the work to be completed, your teams’ experience, and the amount of time required to complete a planning engagement (typically 1-6 months).
The cost of services can be taken care of in three installments:
- 1/3 – due at the time an agreement is signed
- 1/3 – due month following the agreement
- 1/3 – due two months following the agreement
Yes. Due to regulations, and for your protection, we do not permit our advisors to have access to your account login information. We can research your investment options and provide specific recommendations for your investment mix to implement your portfolio strategy.
The planning process can take anywhere from 6-12 weeks to develop your plan and begin implementation.
FEES – FAQ
Should you choose to cancel within 15 business days of signing your agreement, you will receive a full refund of your initial fee paid. After 15 business days, you will receive a pro-rated refund for any work that was not completed. For example:
Your agreement terminates after 20 business days. Half of the work has been completed. If your one-time agreement fee was $3,000 you would receive a refund of $1,500.
The most common method is billing an investment account that is managed by One Life.
Example 1 – Financial Planning and Bundled Service Fees
Let’s assume your fee for ongoing financial planning or bundled services is $600 per quarter.
- One Life would help you open an investment account if you did not already have an account.
- You would initially fund your investment account with $600.
- You would also fund the account with $600 per quarter or $200 per month from your checking account.
- One Life would pull $600 per quarter out of your investment account.
Example 2 – Unbundled Assets Under Management Fees
- Your account is billed quarterly as a percentage of assets that One Life manages on your behalf. See your agreement for details.
Wealth management services are available for two different types of accounts:
ASSETS UNDER MANAGEMENT – We will select a custodian (i.e. TD Ameritrade) and help you open and fund your accounts with contributions, transfers, rollovers, and deposits. We will also assist you with withdrawals, distributions, and account maintenance. Finally, we trade and rebalance your accounts to implement your portfolio strategy or when your plan changes.
EXTERNAL ACCOUNTS – We can help you manage your company retirement plans, 529 plans, and other accounts that are not directly under our control. Within this service, we help you research and select from a core list of investments that are available in your plan. Once recommendations are available, our team can help you understand and implement these changes through a teleconference or online meeting
See our Investment Philosophy. We have access to use the Dimensional approach to investing. This approach is typically not available to individual investors or financial advisors unless they are approved to used Dimensional’s investment solutions. CLICK HERE to learn about why we like the Dimensional approach to investing.