Mayport offers two services, Financial Planning and Comprehensive Wealth Management:
Mayport’s Financial Planning service will provide you with a complete, customized financial roadmap. First, we sit down with you, in person or virtually, to understand all of your financial goals, questions and concerns. Then, we prepare a complete written plan and, in our second meeting, walk you through each component of your plan, discussing our recommendations and answering your questions. While your plan will be customized to your specific financial situation, a typical plan includes these topics:
- Long-term cash flow and retirement income plan
- Investment recommendations, including asset allocation for each of your accounts
- Investment recommendations from the menu of options available in your 401(k) or 403(b) plan
- Real estate (e.g., home purchase or sale, downsizing or refinancing)
- College tuition
- Debt, including student loans
- Charitable giving
- Estate planning
Cost: The one-time cost for a financial plan is normally between $2,500 and $5,000. In cases of unusual complexity, this fee may be higher. After your plan is complete, you may choose to retain Mayport to assist you in implementing your plan or to update it as your financial situation develops. Please contact us to discuss your needs and for a specific cost estimate.
Comprehensive Wealth Management
Mayport’s Comprehensive Wealth Management service includes these components:
- Customized Financial Plan, as described above.
- Ongoing Financial Planning: As your family and career evolve, Mayport will serve as your financial guide. We will update your plan on an ongoing basis and will help you think through key financial decisions as they arise.
- Investment Management: Mayport will construct and manage a low-cost, index fund-based investment portfolio customized to your individual goals. We will regularly monitor your portfolio, making adjustments as needed. You will receive detailed reports and also have access to your plan and accounts through our web portal and mobile app.
- Investment Guidance for Your Retirement Accounts: Mayport will help you select appropriate investments for each of your retirement accounts. And, when it is appropriate to rebalance an account, Mayport will provide instructions to walk you through this process.
- Holistic Financial Advice: While Mayport does not provide formal tax, insurance or estate planning advice, we are aware of the relevant issues and opportunities and will often make suggestions and coordinate planning strategies with your other advisors.
- Customized Web Portal: Mayport will create for you a personal web portal, providing access to all of your accounts, your personal balance sheet and your financial plan. Your portal will also include tools to monitor your spending and to store important documents, such as your estate plan.
Cost: Unlike most investment firms, Mayport does not believe in traditional percentage-of-assets fees. Mayport charges just a flat annual retainer for Comprehensive Wealth Management – normally in the $5,000 to $20,000 range, depending upon the complexity of your needs. Compared to other firms charging a percentage of your assets, this could result in very significant savings.
To learn more about these services, please contact us us any time.