Building a Future You Can Count On

At Morkel Financial Planning, we specialize in helping you achieve financial peace of mind and security. Led by Ewan Morkel—a seasoned financial expert with a foundation in tax advisory—our firm combines in-depth tax knowledge with personalized financial planning and investment management. Whether you're planning for retirement, managing your investments, or navigating complex financial decisions, we're here to guide you every step of the way.

Client-Centered Approach

Our clients are our top priority. We believe in developing long-term relationships built on trust, communication, and mutual respect. By offering financial education, clear communication, and consistent support, Morkel Financial Planning is more than just an advisory firm—we’re a partner in your financial journey.

WHO WE SERVE

HELPING INVESTORS FROM EVERY BACKGROUND

rETIREES

  • We guide those who have or are about to retire with creating a life long plan that can withstand the natural swings of the market.

  • You've worked hard for you money. We can help ensure that you collect it smoothly & safely from your provider.

BUSINESS OWNERS

  • Business owners know how hard it is to find good talent. We can help make sure you are offering your employee's benefits that help you retain them.

  • Owning a business is risky. Let us help you with a plan that makes sure your business is set up for success.

TRUSTS & ESTATES

  • Not sure what will happen to your money when you're gone? We help clients navigate the estate planning process and provide comfort in knowing their estate is secure.

  • You've done the hard part. Now let's make sure your trust is managed properly.

FAMILIES & INDIVIDUALS

  • Whether you are planning for a child, buying a new home, or planning for the future, life comes at you quick. We help families develop a plan that makes sure all their goals are met.

  • To accomplish your goals, you need to put your money to work. We make sure our clients money is invested properly and will meet all of their needs.

FAQs

  1. What is an appropriate fee for a Financial Advisor?
    The fees for financial advisors can vary significantly based on the services provided, the advisor’s experience, and the complexity of the client's needs. Here are common fee structures:

    Percentage of Assets Under Management (AUM):

    Typically ranges from 0.25% to 2% annually.
    Example: For $500,000 in assets, the fee might be $1,250 to $5,000 per year.
    Hourly Fees:

    Generally range from $150 to $400 per hour.
    Suitable for clients needing specific advice on a particular issue.
    Flat Fees:

    Can range from $1,000 to $7,500 per plan.
    Often used for creating comprehensive financial plans.
    Retainer Fees:

    Monthly or quarterly fees, usually ranging from $2,000 to $7,500 annually.
    Ideal for ongoing access to financial advice and support.

  2. What is the cost of a financial advisor?
    The actual cost depends on the chosen fee structure and the level of service required. For example:

    AUM Model: For $1,000,000 under management, the cost would typically be $2,500 to $10,000 annually.
    Hourly Model: A client needing 10 hours of advice annually at $300 per hour would pay $3,000 per year.
    Flat Fee Model: A comprehensive financial plan might cost $3,000 upfront.

  3. Is it worth paying for a financial advisor?
    If you hire the right advisor, absolutely. studies show that investors that work with a financial advisor have better returns. Some ways that financial advisors help are:

    Expertise and Peace of Mind: Advisors bring specialized knowledge and experience, providing peace of mind and reducing the stress associated with financial decisions.
    Comprehensive Planning: Advisors can offer holistic advice, covering retirement planning, tax strategies, estate planning, and more.
    Behavioral Guidance: Advisors can help clients stay disciplined, avoiding emotional decisions that could harm their financial health.
    Potential for Better Returns: While not guaranteed, advisors can potentially enhance portfolio returns through strategic asset allocation and tax-efficient investing.

  4. How much money should you have when getting a financial advisor?
    There is no specific minimum amount required to benefit from a financial advisor. However, most financial advisors have a minimum requirement to be a client. Some considerations include:

    Complexity of Financial Situation: Individuals with complex financial situations (e.g., multiple income sources, business ownership, significant assets) can benefit more from professional advice.
    Investment Goals: Those with clear investment or retirement goals may find professional guidance invaluable.
    Comfort with Financial Management: Individuals uncomfortable managing their finances may find it worthwhile to seek professional help regardless of their asset size.

  5. What is a fiduciary financial advisor?
    A fiduciary financial advisor is a professional who is legally and ethically obligated to act in the best interests of their clients. They are required to provide unbiased advice and to prioritize their clients' needs above their own.

  6. How does a fee-only advisor differ from other financial advisors?
    Unlike commission-based advisors who earn money by selling financial products, fee-only advisors earn their income exclusively from the fees they charge clients for their advice and services. This structure helps to minimize conflicts of interest.

  7. Are all financial advisors required to be fiduciaries?
    No, not all financial advisors are required to be fiduciaries. Some operate under a suitability standard, which only requires them to recommend products that are suitable for clients, even if they are not the best option. It is important to understand the standard your advisor adheres to.

  8. How can I verify if a financial advisor is a fiduciary?
    To verify if a financial advisor is a fiduciary, you can ask them directly about their fiduciary status and request that they provide it in writing. Additionally, you can check their credentials and affiliations with fiduciary organizations, such as the National Association of Personal Financial Advisors (NAPFA).

  9. How do I know if a fee-only fiduciary financial advisor is right for me?
    If you prefer transparent and predictable costs and want to avoid potential conflicts of interest associated with commission-based or percentage-based fees, a fee-only fiduciary financial advisor may be a good fit. It’s also a good choice if you need a range of financial planning services.

  10. How do I switch to a fee-only financial advisor from my current advisor?
    To switch to a fee-only financial advisor, start by researching and selecting a new advisor who fits your needs. Inform your new advisor of your decision, and work with them to transfer your accounts and relevant financial information. Ensure that you understand any fees or penalties associated with terminating your current advisory relationship.