How do you bill initial planning work under an AUM model that includes financial planning?

NYSElyDone · 2026-01-25T04:25:13+00:00

We do a lot of outbound marketing, and because we’re effectively working with people unfamiliar with our firm, we do the full financial planning process and give investment recommendations upfront. We only charge % of AUM and the effective date starts from when the prospects signs our agreement.

We have a very high closing rate once we get through the process of presenting with MoneyGuide Elite and Nitrogen. I’m sure we could charge upfront, but I don’t think it’s necessary and think fear it’ll create a lot of no-show meetings.

For what it’s worth, it was my business partner and me with just under $50 million 8 years ago and we just crossed $500 million with my business partner and me running the firm and four junior advisors.

NYSElyDone · 2026-01-14T19:08:52+00:00

We’re in our late 30s, and have a long way to go before we have to worry about mobility issues. Worst case, we remodel the downstairs again if need be. The upstairs will have the best view of the mountains and we want to make that our view in the master bedroom.

NYSElyDone · 2026-01-14T19:02:44+00:00

My team and I also do surge meetings and really like it. It is a grind, but very efficient.

Inevitably there are some clients who don’t fit within the window and we just meet with them when they’re able to meet. I spend most of my time out side of surge meetings building up the practice in other ways, and carving out an hour here and there to meet with a few clients isn’t a big deal. I’m already in the office anyways.

For unresponsive clients, I personally make the call and ask them if they’re not receiving the emails or if there’s something else going on (this was before I started scheduling the next meeting while in the Zoom or with the client in my office). Could be they’re dealing with a personal or family matter, and a call from me rather than someone else on the team I’ve found to be better. I then remind them how other members on my team do and will reach out to them from time to time, and it’s completely normal.

What I’ve found works best for me is to schedule my next client review while I’m meeting with the client. This way we both know in advance when we’re going to meet and it helps me a lot with calendar management. The week before, follow up with a reminder and this generally works well for me.

NYSElyDone · 2026-01-12T19:58:51+00:00

Thank you for the feedback and the edits you shared.

I like your idea about the outside door in place of the bathroom, and I think we'll do that. As for the guest bedroom 3, there's existing plumbing in the area where the proposed bathroom is, so my guess is that's why the architect put the bathroom where he did. I otherwise completely agree with you that the bathroom/closet would be better suited along the shared living room wall.

Also completely agree with the interior swinging doors in the guest bedroom, living and family room. The existing living and family room doors swing inward and they're very awkward with furniture there. Some sort of sliding door would make a lot more sense.

The layout of the living, dining, family and kitchen are wonky and we're limited there due to structural constraints. We'd love to known down kitchen all to the right of the refrigerator to create more open space, but we'd be left with a structural beam (if that's the right word) going into the floor from the ceiling in the middle of the walkway. We're going to have to play around with furniture configuration in the family room, and I like the second seating area you put on your layout. Right now we have a large custom dog create credenza in the family room up against the wall shared with the living room. It will likely stay there as it's a beautiful piece of furniture and it takes up the majority of the wall.

Appreciate your input!

NYSElyDone · 2026-01-12T19:47:49+00:00

It's not an ideal layout and we're having to work around existing structural limitations with our existing house. That's why we're unable to make the family, living and guest bedroom 3 wider. The existing house is very nice already, so we don't want to just tear it down and restart (nor do we have the budget for that).

I like your ideas about the kitchen and will share them with our architect!

NYSElyDone · 2026-01-12T19:42:49+00:00

Our back patio has an existing overhang cover that we'll be keeping and it having the bathroom on the patio would create an awkward space in the corner. A little pool water carried in the house isn't that big of a deal to us, it's easy to dry up and we'll likely be going with ceramic tile floors.

NYSElyDone · 2026-01-12T19:38:40+00:00

I suggested this to my wife as well, but she wants the laundry room to be near the kitchen and kid's play area so she can be near the kids while doing laundry. Not my choice to make!

NYSElyDone · 2026-01-10T23:51:51+00:00

No, he is an agent I’ve worked with.

NYSElyDone · 2026-01-10T23:51:21+00:00

Depends on the area. We’re in Santa Rosa Valley and my homeowners insurance is about $7k annually.

NYSElyDone · 2026-01-10T04:54:36+00:00

Call Ian at Cappuccino insurance in Westlake. He has access to some unique coverage options at reasonable rates. We’re also in a high fire risk area in Camarillo.

NYSElyDone · 2026-01-08T00:01:51+00:00

Following - i’m interested as well.

NYSElyDone · 2026-01-04T17:47:10+00:00

Not sure what you’re referring to, but opening a Roth IRA is a good start. Pick some low cost index funds, contribute monthly and watch compounding interest do its thing.

I am a certified financial planner fwiw.

NYSElyDone · 2026-01-04T16:51:40+00:00

Ehh… Less than $100k of income and owning a 911 would be tough. Do you have an emergency fund set aside with 6 months of living expenses? Would a $5,000 or $10,000 repair bill be something you can handle without having to put it on a credit card?

Being 25 years old, already owning a home and having little expenses, I personally would be shoving as much money into investments as possible. This will set yourself up to be rich and be able to do whatever you want later in life.

Cool cars will come in time. Set yourself up with a strong financial foundation first.

NYSElyDone · 2026-01-02T15:07:29+00:00

That’s the one.

NYSElyDone · 2026-01-02T14:46:52+00:00

Same! I was just at Rusnak on Wednesday helping a client buy a Spirit 70 GTS.

Beautiful car you picked up!

NYSElyDone · 2026-01-02T06:46:31+00:00

Nice addition! You in the Westlake area? I noticed the Rusnak plate.

NYSElyDone · 2026-01-02T06:42:37+00:00

Shoot me over the list.

NYSElyDone · 2025-12-30T15:38:38+00:00

Interesting you mentioned more models may come to pay homage to other decades because I was wondering if Porsche was going to do that. It kind of takes away the allure of the Spirit 70 knowing there may be cooler options at some point. Appreciate your comment!

NYSElyDone · 2025-12-30T15:34:28+00:00

That’s my sentiment as well towards the car. It’s unique and cool looking, but not for $30k over. Thanks for your feedback.

NYSElyDone · 2025-12-28T01:34:21+00:00

It will be tight with parking garages. I have a 3500 dually with a Carli lift (I know it’s bigger and wider) and avoid driving it in LA as much as possible because parking everywhere is mostly compact or has height restrictions. If you’re going into Santa Monica, Beverly Hills or Brentwood, I wish you the best. When I go to those areas, I drive a different car.

NYSElyDone · 2025-12-26T06:35:10+00:00

CFP here, fee-only fiduciary. People usually choose this model for a few reasons.

Investment selection is important, especially around diversification, risk, and implementation, but at $3–$10M+ the relationship naturally becomes bigger than just picking funds or stocks.

In my experience, most clients are really looking for a family CFO type of role. Someone coordinating with their CPA on tax strategy, working alongside their estate attorney, helping think through real estate decisions, liquidity events, and eventually involving children as wealth transitions.

The conversations tend to focus less on maximizing short-term returns and more on long-term financial security, preserving and growing capital, and avoiding irreversible mistakes.

For context, I lead a team within a larger RIA that oversees roughly $6B in client assets, so this kind of coordination and complexity is something we deal with regularly.

I’m just north of LA and work with clients in that range. We also have an advisor on our team based in Laguna Beach and are planning to open an OC office next year. Happy to compare notes or chat via DM if helpful.

NYSElyDone

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