WHO WE WORK WITH
Who is a typical Hive Retirement Planning client?
Hive primarily works with people approaching or in retirement who have approximately $2 million to $10 million of investable assets.
Our clients want help coordinating the major financial decisions that come with retirement, including spending, retirement income, taxes, investments, and legacy planning.
Can I work with Hive Retirement Planning if I don't live in New York?
Yes. Hive Retirement Planning is based in New York and works virtually with clients across the United States, subject to applicable registration requirements.
FEES & FIDUCIARY ADVICE
How much does it cost to work with Hive Retirement Planning?
Hive charges a flat fee of $12,000 per year for comprehensive retirement planning and ongoing investment advice and management.
We do not charge a percentage of your investment portfolio, and your fee does not increase simply because your portfolio grows.
What is included in Hive's $12,000 annual fee?
The annual fee includes comprehensive retirement planning, retirement income planning, lifetime tax planning, investment advice and management, retirement spending analysis, and legacy planning.
Every new client begins with the Hive Retirement Process™, and we continue working with you as your circumstances and financial decisions change throughout retirement.
Is Hive Retirement Planning a fiduciary?
Yes. Hive Retirement Planning is a flat-fee fiduciary financial advisory firm. We are required to act in our clients' best interests when providing investment advice.
We do not sell financial products for commissions, and our fee is not based on the amount of money you invest with us.
What is a fiduciary financial advisor?
A fiduciary financial advisor is required to put a client's interests first when providing investment advice. This means recommendations should be based on what's appropriate for the client, not on commissions or incentives to recommend particular financial products.
Hive Retirement Planning is a flat-fee fiduciary financial advisor specializing in retirement planning for people approaching or in retirement.
Does Hive charge an assets-under-management (AUM) fee?
No. Hive does not charge a percentage of the assets you invest with us.
We charge a flat annual fee for comprehensive retirement planning and investment advice and management.
Does Hive sell annuities, life insurance, or other financial products?
No. Hive does not sell annuities, life insurance, or investment products for commissions.
We are paid directly by our clients for financial advice and investment management.
INVESTMENTS
Do I have to transfer my investments to Hive?
No. You are not required to transfer your investments to Hive.
If you would like Hive to manage your investments, investment management is included in your annual fee.
If you prefer to keep your investments elsewhere, we can still review those accounts, incorporate them into your retirement plan, and make recommendations. You would be responsible for implementing trades, Roth conversions, withdrawals, and other transactions in accounts Hive does not manage.
The fee is the same either way.
Where are my investments held if Hive manages them?
Hive uses Altruist and Charles Schwab as custodians for client investment accounts.
Your assets are held with the custodian, not by Hive Retirement Planning.
Can I keep investments at another financial institution and still work with Hive?
Yes. You can keep some or all of your investments at another financial institution and still work with Hive.
We can review those investments, incorporate them into your retirement plan, and make recommendations. Because Hive does not control those accounts, you will be responsible for implementing our recommendations.
RETIREMENT PLANNING
Does Hive help with Roth conversions and retirement tax planning?
Yes. Lifetime tax planning is an important part of the Hive Retirement Process™.
We evaluate strategies such as Roth conversions, withdrawal sequencing, required minimum distributions, and other tax decisions that may affect your retirement plan.
Does Hive help determine how much I can spend in retirement?
Yes. Understanding your spending is one of the foundations of the Hive Retirement Process™.
We help you understand what your retirement lifestyle actually costs and evaluate whether your income, savings, and investments can reasonably support that lifestyle over time.
Does Hive help with Social Security and retirement income planning?
Yes. We help coordinate Social Security, pensions, portfolio withdrawals, cash reserves, and other income sources to create a retirement paycheck designed to support your lifestyle.
WORKING WITH HIVE
What happens during my first year with Hive?
Every new relationship begins with the Hive Retirement Process™.
During your first year, we'll work through six important areas of your retirement:
Get Organized → Your Spending → Your Retirement Paycheck → Your Tax Strategy → Your Investments → Your Legacy
Some decisions may need immediate attention, while others can be addressed over the course of the year.
What happens after the first year?
Retirement planning doesn't stop when the initial plan is complete.
We continue to revisit the areas we covered during your first year, including your spending, retirement income, taxes, investments, and legacy planning, and adjust your plan as each of these areas, your circumstances, and your priorities change.
We are also available to respond quickly when life throws you an unexpected curve and help you understand how it affects your finances.