The majority of retail and investment banks, financial advisory companies and wealth/estate planning firms do not charge a fee for their service or their time. Instead they opt to receive an income by way of commission payments for distributing savings and investment plans, asset management portfolios and underlying investment funds.
Although this seems a great option for the client who will receive the services for free it is a false economy. You actually pay far more than you would have been willing to via indirect commissions that are loaded back into the very platforms and funds that you have been advised to invest into. This also incentivizes the advisors to constantly take on new clients and means that their clients tend not to receive the service they were promised and have no recourse as there was no contract signed for these free services.
In order to make Empire accessible, we have a very low annual service fee of just 0.5% on assets under management. At Empire we guarantee results, if we can not improve on your current returns/risk then you do not pay anything. We believe that you should only pay for benefits.
There are 5 ways that Empire can add value to our clients.
Empire can reduce the spreads charged on money transfer services typically saving our clients between 2%-4% on the full value transferred. For our contracted clients we guarantee a cost reduction on your cuurent rates of 50% for not contracted clients we guarantee a 30% reduction on your current rate.
Empire can reduce the fees charged by savings plans and wealth management platforms.
Empire can evaluate your existing investment portfolio and identify commission structured products and investment funds and exchange them for funds with the same profile with far less administration and performance fees.
Empire can reduce the cost of your life and health insurance policies.
Empire can improve returns providing more effective investment strategies.