Frequently Asked Questions

Always, with no exception. I am legally required to act as fiduciary as a representative of a Registered Investment Adviser (RIA) firm. Further, my fee structure is designed to remove as many conflicts of interest as possible.

Yes. Vance Financial Planning, LLC is solely compensated through the fees outlined on the pricing page. I do not accept kickbacks, referral fees, or commissions.

My fee for wealth management services is $6,500/year.

Most wealth management firms charge based on a percentage of assets under management (AUM), with a common fee being 1% of AUM. That equates to:

• $5,000/year for $500,000 portfolios
• $10,000/year for $1,000,000 portfolios
• $20,000/year for $2,000,000 portfolios
• Etc.

My planning process is designed to address the tax impact of financial decisions. I love answering questions like these:

• Are we withholding enough in tax? If not, do we need to make an estimated payment, increase withholding on IRA distributions, social security, or other?
• We want to increase retirement income by $1,000/month, what accounts should we take it from?
• What changes can we make today that might save us in future taxes?
• Are our investments allocated most tax efficiently for our situation? (Income level, state of residence, medicare surcharge exposure).
• Are there income phaseouts/phase-ins for tax credits or surtaxes that we need to consider when making financial decisions?
• What is the best way to give $1,000/month to our church, alma matter, or favorite charity?
• And more!

I believe in simple, low-cost, low-turnover, diversified portfolios that are tailored to individual tax situations. Research suggests that higher fee and higher turnover portfolios are unlikely to yield higher returns net of fees and taxes over long periods of time.

To learn more about my approach to investments, read this blog.

Wealth management client assets are held at Charles Schwab.

You will receive regular statements from Charles Schwab and have 24/7 access to your accounts through a secure online login.

When we set up your accounts at Charles Schwab, we will link your preferred checking account to your investment account(s).

You can request withdrawals at any time, and I'll handle the logistics of getting the funds into your account based on your financial plan and tax considerations.

Clients often prefer to set up recurring withdrawals on the 15th of each month to create a reliable retirement paycheck.

Yes, eventually. For wealth management clients, I will review business costs and recent inflation (as measured by the CPI-U) on a triennial basis beginning in 2029 (and 2032, 2035, etc.). If an adjustment is necessary due to rising costs, clients will receive advanced notice of the new amount and will sign new advisory contracts prior to the fee being put into place.

I may adjust my hourly & one-time plan fees in between regularly scheduled review cycles.

In all cases, you can expect the fees currently listed on my pricing page to be accurate and up to date.

Once we've confirmed we're a great fit and you decide that you'd like to work with me, I'll handle the heavy lifting of the transition for you.

If accounts are already held at Charles Schwab, we'll simply link my firm to your existing accounts and (if applicable) remove the existing advisor.

If your accounts are held elsewhere, we will open new accounts at Charles Schwab and initiate transfers to move your assets securely and efficiently.

Yes, I work virtually with clients nationwide.

Not yet. But I intend to start offering tax return preparation services through an affiliated company, Vance Tax Services, LLC beginning in 2027 (for tax year 2026). This will be an optional add on service for a separate fee.