Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Individuals & Small Businesses
- Portfolio Management for Businesses or Institutional Clients
- Other
Types of Clients
- Individuals (Not High Net Worth)
-
Individuals High Net Worth
*>=750k in Investable Assets or >=1.5m of Estimated Total Net Worth
- Charitable Organizations
- Corporations or Other Businesses Not Listed Above
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Hourly
- Fixed Fees (Other than subscription)
Finer Wealth Management, Inc. Overview
FINER WEALTH MANAGEMENT, INC. is a fee-only registered investment advisory firm that has been in business since 2021. Their headquarters are located in Salem, MA, and they specialize in investment advice only. As a fee-only firm, they do not accept commission-based compensation, ensuring that their advice is unbiased and in the best interest of their clients. The firm offers financial planning services to help clients achieve their financial goals and create a personalized plan for their future. They also provide portfolio management services for both individuals and small businesses, tailoring their investment strategies to meet each client's unique needs and risk tolerances. In addition, FINER WEALTH MANAGEMENT, INC. offers portfolio management services for businesses or institutional clients, utilizing a strategic approach to help manage their investments and assets. Along with these core services, the firm also offers advisory consulting services to help clients navigate complex financial situations and make informed decisions about their investments. Overall, FINER WEALTH MANAGEMENT, INC. is a trusted partner for clients seeking expert investment advice and portfolio management services. With a focus on personalized attention and unbiased advice, they strive to help clients achieve their long-term financial goals and build a more secure financial future.
FINER WEALTH MANAGEMENT, INC. serves a diverse range of clients, including individuals, high net worth individuals, charitable organizations, and various other types of corporations. Their services are tailored to meet the unique needs of each client, with a focus on achieving their long-term financial goals. With their comprehensive range of financial planning and investment management services, FINER WEALTH MANAGEMENT, INC. is able to provide clients with the expertise and guidance they need to make informed decisions about their financial future. At FINER WEALTH MANAGEMENT, INC., clients have the option to choose from a variety of fee structures that depend on the service provided. This includes a percentage of assets under management (AUM), hourly rates, and fixed fees. Their expert team of advisors will work closely with each client to determine the most suitable fee structure for their specific needs. With a commitment to transparency and quality service, FINER WEALTH MANAGEMENT, INC. ensures that their clients receive the personalized attention and support they deserve. Whether it's managing investments, creating a retirement plan, or developing an estate plan, clients can trust FINER WEALTH MANAGEMENT, INC. to provide them with the resources they need to achieve their financial goals.
Typical Clients, Fee Structures & Investment Minimum
According to FINER WEALTH MANAGEMENT, INC.'s Part 2 Brochure, there is no mention of an investment minimum.
How This Office Can Help Salem, MA Residents
Finer Wealth Management, Inc. is committed to helping clients in Salem, MA achieve their financial goals. Whether you're saving for retirement or looking to build a solid investment portfolio, our team works closely with you to understand your unique circumstances and develop customized solutions that align with your goals. As a resident of Salem, MA, you may be facing a number of financial challenges, such as managing debt, saving for a down payment on a home, or planning for retirement. Our experienced advisors are equipped with the knowledge and tools to guide you through each of these challenges and help you achieve your financial objectives. We also offer a wide range of services, including tax planning, estate planning, and investment management, to help you navigate all aspects of your finances. With Finer Wealth Management, Inc. on your side, you can feel confident that your financial future is in good hands.
Services Offered by Finer Wealth Management, Inc.
Core Advisor Services
Financial Planning
Financial planning services encompass the process of devising strategies for your future financial well-being, including preparing for events such as retirement, funding your child's college education, or planning for the transfer of assets.
Portfolio Management for Individuals & Small Businesses
Portfolio management entails the careful selection and strategic management of investment combinations tailored to meet the needs of individuals and small businesses.
Market Timing Services
Market timing services involve the endeavor to generate short-term profits from investments by capitalizing on opportunities to buy at low prices and sell at high prices.
Other Services
Selection of Other Advisors
The firm provides support in selecting and engaging other advisors who possess specialized expertise to complement your financial needs.
Publication of Periodicals or Newsletters
The firm engages in the dissemination of diverse financial educational materials through the publication of periodicals.
Educational Seminars & Workshops
The firm organizes and conducts seminars or workshops aimed at enlightening investors on various financial concepts.
Fee Structures
Financial advisory fees usually are based on the services provided. Fee types charged by Finer Wealth Management, Inc. most likely consist of the following fee types: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the firm.
Available
Percentage of Assets Under Management (AUM)
This fee structure charges a percentage of the assets under management by the firm. Fee structures are often tiered based on the amount of assets managed, with higher AUM often charged a lower rate.
Between 0.50% and 2.00% of assets under management (annually), often lower for a robo advisor. Fees are typically charged quarterly by the firm and will show on your investment statement. View typical advisor costs here.
~96% of registered firms offer this fee structure.
If you have $1 million managed by a firm at a 1% management fee, you would be charged $10,000/year to manage your assets (or $2,500 per quarter). This would be automatically deducted from your investment portfolio.
Hourly
Similar to an attorney, a financial consultant might charge fees based on hourly rates. This fee structure can be advantageous when seeking specific or ad hoc advice.
Charges generally span from $150 to $400 per hour, depending on the extent of the services required.
~33% of registered firms offer this fee structure.
If you needed hourly consulting to sell a business or transfer your estate to your children but did not want your assets managed by a firm, you could consult a firm at an hourly rate to answer any questions you may have.
Fixed Fees (Other than subscription)
Fixed fees are a one-time, lump-sum payment rendered for a specific service, such as creating a financial plan without ongoing management or implementation. This option is beneficial if you solely require guidance for a particular objective rather than a long-term consultancy or asset management.
Fixed fees for creating a financial plan often range from $1,000 to $3,000.
~49% of registered firms offer this fee structure.
If you did not want a firm to manage your assets but needed to create a retirement plan, life transition plan such as divorce or loss of a spouse, estate transition plan, business financial plan, or any other financial planning, you could consult with an RIA firm to help you with the creation of that plan.
Unavailable
Subscription (Newsletter or Periodical)
Commissions
Occasionally, advisors are compensated through commissions by selling certain financial products, such as mutual funds or life insurance policies, or as a broker-dealer by facilitating the buying and selling of securities. Advisors who receive commissions may be incentivized to make specific suggestions to clients in order to secure a commission. Advisors who operate on a fee-only basis do not earn commissions, whereas fee-based advisors may do so.
Often 3% - 6% of the value of the security.
Only ~3% of registered firms say they offer this fee structure, but other advisors may receive “soft dollars”. Many mutual funds charge 12b-1 fees to cover the promoting and selling of the fund’s shares. While your advisor does not charge these fees, they may receive a kickback for recommending the investment.
An advisor selling their client on a life insurance policy and receiving a commission on the sale of that policy, or recommending a specific investment and receiving a kickback for that recommendation.
Performance-based Fees
Advisors typically obtain performance-based fees if a portfolio surpasses a predefined benchmark. This fee is determined through various methods, but is most commonly assessed as a percentage of investment gains. Performance-based fees may incentivize advisors to undertake riskier decisions in pursuit of generating higher returns.
“Two and Twenty” is common among hedge funds with a 2% management fee and a 20% incentive fee above the “hurdle rate,” or performance threshold the fund is compared against.
32% of registered firms offer this fee structure.
A hedge fund earns a 15% return with a 20% performance fee in above the performance of the S&P 500, which grew 7% that same year.
20% of fund growth in excess of S&P 500’s 7% growth for that year = 15% hedge fund growth - 7% S&P 500 growth = 8% difference x 20% = 2% performance fee (in addition to the management fee).
Other
Firms occasionally offer unconventional fee structures when charging clients. For more detailed information about a firm’s specific fee structures, please refer to their Form ADV and Part 2 Brochure.
Types of Clients
*The Securities & Exchange Commission defines someone as “high net worth” if they have $750,000 or more in investable assets or $1.5M of estimated total net worth.
This Office Location
Other Office Locations
Firm Headquarters
This firm has no other locations.
State Registrations
Finer Wealth Management, Inc. is registered to service clients in the following states:
- Arizona
- Florida
- Massachusetts
- New Hampshire
- Texas
- Vermont
Disciplinary History
Finer Wealth Management, Inc. does not have any disclosures. Please visit it's Form ADV for more details.