How We Are Compensated
At Mayfield Financial Services we earn money a few different ways.
The First way that Mayfield Financial Services earns compensation is through an agreement called an “Annual Mutual Agreement”. This agreement is presented to our customers annually. It outlines the services that we will provide our customers and/or their Company over the next twelve months. The price for our services and payment terms, are determined and agreed to by all parties before any work begins. Our “Annual Mutual Agreements” are designed around fixed prices, as opposed to hourly rates, and offer our customers access to the accumulated wisdom and substantial experience of all our team members.
In addition, we also present what we refer to as a “Value Summary” at the same time that we present our “Annual Mutual Agreement”. The “Value Summary” helps to both identify and quantify the actual value that we create as your Financial Advisor. The price for our services is a direct correlation to the value that is created by the guidance that we provide. We assess how and to what extent that guidance improves your personal life and/or business value. Our intention is to always create much more value than the price that the customer pays for our services..
The Second way that Mayfield Financial Services earns compensation is for the management of portfolio assets. The fee for this service is documented in the “Agreement for Investment Management Services” or “AIMS”. Our customers pay a management fee for investment services in the range of 1% to 1.5% annually of the value of the assets that we manage in our advisory program.
The Third way that Mayfield Financial Services earns compensation is on commissions from the placement of various financial solutions, such as; commissionable investments, life insurance, disability insurance, long-term care insurance, medical insurance policies and Medicare insurance policies. Commissions on these vary and we are happy to disclose the amount of commissions that we earn for these financial solutions.