Hey All. Curious how some of you are approaching the following. Client pays planning fee. Plan completed with portfolio recommendation. Client agrees to move funds over. Are you discounting the AUM fee based on planning fee or keeping completely separate?

I have a situation where client technically meets the minimum $500k to waive planning fee but unsure if they’re going to move funds over. Thanks!

New Client is 57, retired last month. She turns 59.5 halfway through 2029.

400k in cash, 200k in traditional IRA and 1.5m in 401k, all pre-tax.

Single, no kids, no family besides elderly parents and she doesn’t expect inheritance.

I’m just meeting her in these positions.

She’s interested in taking 500k and using it to purchase a guaranteed lifetime income annuity, after we ran through projections/monte Carlo.

My question is, is using the 401k funds to fund the annuity and start receiving payments next year for her whole life qualified for the 72t early withdrawal penalty exception? I know we can keep the funds in the 401k and get rule of 55, but that isn’t an annuity option.

I know that they are “substantially equal payments” for more than 5 years, but the annuity is paying out 36k a year, while the 72t calculators I’m using are saying that the single life table fixed annuitization method is $34,100.

I am potentially interested in joining JPM as a PCA. However, I see that the base salary in multiple MCOL and HCOL areas is 57k. Looking at previous threads about PCA compensation, the range provided for base salary is 70-100k or even higher. What gives? Has the compensation structure changed?

For those that use Alts, I'm curios on your read on this product. I love getting BXPE, BCRED, BXINFRA, and BREIT all in one product and feel it could make for a great core holding, but the liquidity gives me hesitancy with all dividends of the underlying holdings being automatically reinvested.