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How We Work With Clients

We offer relationships based on many factors including individual objectives, investment style, need for ongoing advice and interest in particular financial, investment or insurance solutions. With each client, we explore the products and services that might best meet their needs and then they decide what type of relationship they would like with us.

The First Way-  Many clients choose to engage with us for wealth management services, or an investment advisory relationship.  These clients pay an annual fee based upon the amount of money we manage on their behalf.  This fee is billed monthly in advance and debited from their account.  In addition, specific fees and expenses associated with individual investment products may apply.  It is a common practice for us and the client to negotiate the specific asset-based advisory fee in the context of services to be provided and the needs of the client.  For complete details, please see our Advisory Programs Brochure here.

The Second Way-  Some clients choose to engage with us exclusively for financial planning services.  In these cases, a financial planning fee is charged.  This fee is negotiable and based primarily on the complexity of the client’s unique financial situation.  With the client, we complete a Complexity Worksheet as part of the Financial Planning Services Agreement.  Factors that influence and determine case complexity include: 

  1. Net worth
  2. Investable assets
  3. Annual income
  4. Sources of current income
  5. Financial life stage
  6. Total number of financial goals
  7. Time commitment (anticipated time to complete the services)

For complete details, please see our Financial Planning Advisory Programs Brochure here.

The Third Way-  Some clients anticipate low or infrequent trading activity, or simply would like for us to buy an investment or insurance product on their behalf.  In such a case, the client will likely pay commissions or upfront sales charges for the transactions executed. 

We understand that needs change over time so we may also offer a combined approach in which clients may utilize investment advisory, fee-based financial planning, and commission based strategies in conjunction with their changing needs.


Waddell & Reed offers investment advisory programs and financial planning services in its capacity as a Registered Investment Adviser. Consult the Financial Planning Advisory Services Brochure for a complete discussion of these services and the fees associated with them.  10/20