Why We Changed Our Fee Structure (And Why It Matters for You)
Let’s be honest: The financial industry loves the "Assets Under Management" (AUM) model. It’s easy for advisors to calculate, and it’s how things have been done for decades.
But at Concert Financial Planning, we took a hard look at our clients—specifically our BigLaw attorneys—and realized that the old way just didn't fit the modern reality of your financial lives.
That is why we are excited to announce that we have officially converted to a Flat-Fee Service Model.
We still see merit in the traditional style, but for the high-income, time-poor professionals we serve, the flat-fee structure creates a cleaner, more transparent, and ultimately more client-aligned relationship. Here is why we made the switch.
1. Eliminating the "Next Dollar" Conflict
Under the traditional AUM model, an advisor only gets paid if you put money into the accounts they manage. This creates an inherent conflict of interest when you ask, "Where should I put my next dollar?"
If we advise you to pay down aggressive student loans, buy a home, or invest in real estate, an AUM advisor technically "loses" revenue. We don't think that’s right.
We have historically advised clients to:
Build a fortress of liquidity: We often target $100,000+ in cash reserves. We have never charged a fee on cash, and we won't start now.
Aggressively attack debt: For many associates, paying off student loans yields a guaranteed "return" (in saved interest) that rivals the bond market.
Diversify beyond the stock market: Whether it’s collectibles, real estate, or investing in your own professional coaching, your wealth is more than just your IRA.
By moving to a flat fee, our advice is completely agnostic. Whether you invest in a brokerage account or pay off your law school loans, our compensation remains the same. Our only incentive is your financial success.
2. Built specifically for the "BigLaw" Trajectory
Our niche is unique. BigLaw attorneys often have significant income and cash flow long before they have "accumulated assets."
The traditional industry ignores high-earners who haven't yet saved millions. Or, conversely, they overcharge clients who have simple portfolios but high balances.
Our new model assesses the complexity of your life, not the balance of your account. We determine your fair, flat fee based on two core factors:
Household Composition: Are you single, or are we advising a dual-income household?
Career Stage: Are you a First-Year Associate or a Senior Partner?
3. Tailored to Your Complexity
Complexity looks different at every stage of a legal career. Our fee structure reflects that reality.
The First-Year Associate: You are likely single and drinking from a firehose at work. You need clarity on student loan repayment strategies, building liquidity, electing benefits, and securing disability insurance. We get you on the right track immediately, preventing mistakes that cost thousands later.
The BigLaw Partner: You might be married to a spouse with their own equity compensation packages. You receive a K-1, owe quarterly estimated taxes, and are navigating mortgage planning, estate resilience, and perhaps private school tuition. You don't just need investment management; you need a financial quarterback.
The Bottom Line
We believe this structure is the future of financial advice. It is transparent, it reduces conflicts, and it respects the fact that your financial life is about more than just the stocks in your portfolio.
This is modern service for the modern investor.
Ready to see how this new model fits your life? Check out our Services & Pricing page here.
Get in Touch: Contact@ConcertPlanning.com
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