All of our fees are billed transparently to clients and are listed in our ADV II document. On the investment side, we receive compensation through management fees, financial planning fees, and, in limited situations, performance fees, as outlined in a separate management agreement.
On the insurance side of our business, we utilize brokers so that we attain the broadest access to the best products. Life disability and long-term care pay us through commissions. Commissions make up less than 10% of our total revenue. We choose to continue to offer term insurance, disability, and long-term care because we have deep personal experience in this area. We believe strongly that much conflict can be removed if money is managed and insurance is provided in a fiduciary capacity. Insurance commissions are often less over time than assets under management fees. In addition, we have found that by directly offering insurance, we can give our clients better pricing and a much better client experience than advisors who only outsource insurance.