Compensation is an issue that is seldom discussed with clients. It is, however, an issue that is often discussed by the media and generally misunderstood.

At Speight & Associates we want to ensure our clients completely understand how we are paid so that they feel comfortable with our advisors and confident that our recommendations are based on their needs and objectives, not sales incentives, fees or commissions.

The following is a brief overview of our compensation structure. Please feel free to ask your advisor for further clarification if you have any questions.

Commission

Our advisors are paid commission by the financial institutions that they recommend once the initial sale has been completed. Advisors may also receive a renewal, or service commission if their client retains the policy with that particular carrier during a given time period.

Referral Fees/ Bonuses & Non-monetary Benefits

For certain products advisors may also receive a referral fee, bonus and/or non-monetary benefit, (such as travel incentives) and may be eligible to participate in a share bonus plan. This compensation depends on various factors such as the volume or retention of business placed by advisors with a particular company during a given time period.

Fee Based Services

Currently our clients are not charged fees for our general services. We do, however, offer certain fee based planning services that require additional time and expertise. These services include Comprehensive Financial Security Planning, Estate Planning & Tax Strategies, Insurance Analysis and Retirement Planning. The following is a general guideline of the initial and annual fees required for these services. If you are interested, please feel free to ask your advisor for further information.

Applicable Fees

Initial Planning Fee
Includes the review & analysis of client information, all required client meetings, initial and final written recommendations, documented illustration and proposals
$3,500

Annual Fee
Includes quarterly maintenance, investment rebalancing, correspondence, annual reviews, performance evaluations and any further recommendations, illustrations and proposals
$750