SAS - Dollars & Cents
Pricing Transparency
If you have been in the wealth management industry for any amount of time, you will know that many (most?) firms are not known for their pricing transparency. At Sovereign, we believe in not only highly competitive pricing, but also, absolute transparency and clarity when it come to pricing disclosures. We maintain this credo of transparency with the individual clients of our corporate RIA and we maintain this credo with the advisors considering affiliating with us.
In fact, we look at the platform fees and our relationships with our advisors as a "Cooperative". Our goal is is to take advantage of our collective scale to be able to deliver advisor support solutions in the absolutely most cost competitive way to all of our affiliated advisors.
Payout and Platform Fees
100% Payout
All advisors on our platform receive the same payout: 100%
That's pretty straight forward, and absolutely correct. There are no hidden fees, ticket charges, haircuts, from the BD, Custodian, or the RIA. For example... if you have an account with $1,000,000 and you charge that account 1.5%, you will receive $15,000 - period.
Platform Fees
Our platform fees are as straight forward as they are competitive:
- $500 / month / advisor
- 20 Basis Points for the first $20,000,000 in AUM
- 10 Basis Points for the next $80,000,000 in AUM
- 5 Basis Points for AUM over $100,000,000
What's included in the platform fees?
In short, these platform charges cover 100% of what you will need to run your business -- focus on the aspects of your business that you love and leave the rest to us:
- Back office infrastructure
- Compliance
- E&O insurance
- Immediate access to either of our preferred custodians: Raymond James and/or Charles Schwab
- IT:
- CRM
- Portfolio Management & Accounting
- Financial Planning
- Risk management
- Phone system (including all long distance)
- Use of offices and conference rooms at all of our corporate RIA locations:
- NYC (The Chrysler Building)
- Stamford, CT
- Westport, CT
- Yardley, PA
- Marketing
- Access to all of our corporate RIA's client / prospective client events
- Website presence
- Potential to participate in our various affinity marketing programs
- Support from advisors who have all made the type of transition you're considering today.
Optional Ad-Ons
Since all advisors run their business differently we offer the following infrastructure components "à la carte". Pay for what you need, don't pay for what you don't need...
Dedicated Client Service Associates
If you wish to have access to a dedicated CSA team you can easily do so with us. our CSAs will be able to handle all of your ongoing, personal administrative needs:
- Setting / changing / confirming appointments with your clients
- Reaching out directly to your clients on your behalf to complete any and all custodial paperwork including (but not limited to):
- New accounts
- Beneficiary updates
- Funds transfer in / out
- Anything you need to have done regarding your clients and any of our preferred custodians (Raymond James & Charles Schwab)
Fee = $2,000 / month for unlimited, personal support
Dedicated office
The platform charges above give you full access to office space and conference rooms at any of our corporate RIAs' offices - currently in:
- NYC (The Chrysler Building)
- Stamford, CT
- Westport, CT
- Yardley, PA
This level of access is sufficient for most of our advisors. However, if you wish to have your own, fully dedicated / full time physical office space that reserved exclusively for your use you can surely do that as well at any of our corporate RIA's office locations, or, we can help you set up an office anywhere you may like in the USA.
Fee: This is a complete pass through with no "vig" added. The cost will run between $500 - $2,000 / month depending the the location and office size you prefer.