Why Dagel Financial

Dagel Financial takes pride in providing advice that places clients first. As a Fiduciary, we strive to increase our client’s chances of achieving their financial goals by providing sound advice while trying to minimize risks and keep cost low.

OUR ADVICE 

Our advice is always developed with the client's best interest in mind. 

In order to achieve this level of objectivity, we do not accept any compensation from third-parties. Instead, we charge an hourly or flat fee for our service because we believe commissions and percentages on assets can cloud the advisor’s objectivity. We believe our fees should reflect services rendered rather than be based on the client’s investable assets or net worth. 

Finally, wbelieve that while we can’t guarantee returns, we can certainly manage costs and risks. For this reason, we always look for low cost/value alternatives and recommend low risk solutions within the clients individual risk tolerance.

Daniel Elie, President, Founder and Principle of Dagel Financial, is a CFP practitioner with over 20 years of experience who swears by the code of ethics of the CFP Board. 

DANIEL ELIE

CFP®, LL.M., M.B.A.
Principal/Founder of Dagel Financial

A CERTIFIED FINANCIAL PLANNER™ practitioner with more than two decades of experience, Daniel Elie has passed through rigorous education, examination and experience requirements. He maintains an ongoing continuing education program and swears to the CFP Board’s Code of Ethics.

Comprehensive training as well as decades of experience have culminated in expertise in all aspects of financial planning including investing, insurance, income and estate tax planning, divorce planning, and retirement plans.  Added to his financial planning knowledge, Daniel Elie also possesses an M.B.A. and a Masters of Law degree that give an added, solid foundation to draw from in leading the firm in serving its clients. As a result, Daniel Elie has been able to and continues to assist many clients maximize their possibilities of achieving their financial goals by ensuring they avoid the most common planning mistakes. However, the firm provides no legal or tax advice.

He is committed to providing objective advice at a low cost. For this reason, Dagel Financial operates by providing the hourly and flat fee service models which require that planners accept no commissions or third-party compensation. Instead, Dagel Financial is paid directly by clients only for services and advice rendered. This approach ensures that the firm’s guidance is straightforward and honest. 

Dagel Financial is a pioneer in the exclusive use of the Hourly or Flat fee schedule for providing financial planning advice in Miami since 2003. We believe we have a responsibility to charge fees based on the value of the services rendered rather than on what we think the client can afford to pay. 

HOURLY OR FLAT FEE FINANCIAL PLANNING ADVICE SINCE 2003 

Dagel Financial is one of the few if not the only Registered Investment Advisor firm in Miami that charges exclusively on an hourly or flat fee basis. We believe it costs our clients much less to evaluate and implement our recommendations than to pay the one-time commission or on-going annual percentage on assets charged by traditional financial consultants.

Our hourly or flat fees are typically 3 to 5 times lower than commissions or fees based on a percentage of assets.  We pride ourselves on having a solid reputation for delivering dependable financial advice for a reasonable fee and recommending affordable solutions.  Finally, we believe financial planning should be accessible to all people, especially those who see value in working with a CERTIFIED FINANCIAL PLANNER™ practitioner and Fiduciary. 

About Us

Daniel Elie
CFP®, LL.M., M.B.A. 

Principal/Founder of Dagel Financial


A CERTIFIED FINANCIAL PLANNER™ practitioner with more than two decades of experience, Daniel Elie strives to assist his clients in avoiding the most common planning mistakes in order to maximize their chances of achieving their financial goals.  With extensive education as a CFP®, as well as an M.B.A. and a Masters of Law degree, he possesses the expertise to provide advice and service to his clients.  In order to maintain the highest ethical standards, Daniel has selected to implement an hourly, flat fee service model that fosters objectivity as it requires that planners not accept any third-party compensation. His commitment is to provide advice at a low cost.

 


Retirement Plans

  • Employees take advantage of tax benefits while saving for their retirement.
  • Employers offer competitive benefits to attract and retain employees.
  • Employers offer retirement plans so their employees can make their own contributions in a tax favored account toward their retirement. 

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RETIREMENT PLANS MAKE SENSE 

Many employers, especially successful small business owners and professionals are continuously looking for ways to lower the impact of income taxes. Retirement plans provide them the opportunity to maximize their contributions to a retirement account while taking advantage of tax benefits not available anywhere else.

 

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HELPING EMPLOYEES

Employers may set up a retirement plan because they want to contribute directly to their employee’s retirement or they may just want to give their employees the opportunity to make their own contributions to their own tax-advantaged retirement accounts.

 

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ATTRACTING AND RETAINING EMPLOYEES

Employers may simply want to offer a retirement plan to remain competitive to attract and keep employees. Picking the right plan starts with understanding clearly the objective of the employer since all plans are not created equal and can vary greatly in costs. 

 

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REGULATION

ERISA and the Department of Labor (DOL) regulate Qualified Retirement Plans and have over time, issued many requirements and guidelines whose primary objective is to protect the plan participants, especially the non-highly compensated ones. These laws and regulations are very complex and require the help of professionals in designing, implementing and monitoring retirement plans. Employers also have the ability to favor higher wage earners, senior employees and older employees if the plan meets certain minimum requirements that protect the other employees.

Employers are considered a Fiduciary and must ensure that fees taken out of plan assets to pay service providers must be “reasonable”.

No employer should expect a service provider to tell him that the same services are cheaper next door.  Therefore it is incumbent on the employer/fiduciary to research and look for the best value when comparing service provider’s fees and charges. Dagel Financial starts by offering low fees for its services and will help you look for the right service providers for the plan you want to offer your employees. 

LOW COST SOUND ADVICE AND SUPPORT   

A plan must have at least one Fiduciary, typically the employer.  However, anyone else making key decisions for an ERISA plan can also be considered a Fiduciary. 

Fiduciaries are subject to standards of conduct since they act on behalf of the plan participants. These responsibilities include: 

  • Acting solely in the interest of plan participants and their beneficiaries with the exclusive purpose of providing them with benefits
  • Carrying out their duties prudently 
  • Diversifying plan investments
  • Only selecting plans with reasonable expenses 

Acting as a Fiduciary requires expertise in a variety of areas. Lacking that expertise, an employer will want to hire a service provider with the professional knowledge to carry out these functions. 

With these fiduciary responsibilities, there is also a potential for personal liability for the employer.  The liability can be limited in certain situations either by documenting the processes used to carry out the fiduciary responsibilities or by giving the participants control over the investments in their accounts as well as the ability to choose from a broad range of investment options. 

Those who handle plan funds or other plan properties must generally be covered by a fidelity bond. 

FEES AND EXPENSES

Fees are just one other factor Fiduciaries need to consider when selecting service providers and plan investments. When fees for services are paid out of plan assets, Fiduciaries will want to understand the fees and expenses charged in relation to services provided. While the law does not specify a permissible level of fees, it does require that fees charged to a plan must be reasonable.” It is the Fiduciary’s responsibility to ensure that these fees are reasonable both at inception and in later years. After careful evaluation during the initial selection, the plan’s fees and expenses should be monitored to determine whether they continue to be reasonable.

Start up plans and existing plans with up to $999,999 in assets 

Set up fee: $750.00 

Annual Fee: $1,000.00 

Existing Plans at or above $1,000,000 in assets 

Set up Fee: $1,000 + $250 per $1,000,000 in assets.

Annual Fee: $1,000 per $1,000,000 in assets  

Annual fees for plans over $1,000,000 will be less than .10% of assets 

We are able to assist you: 

  • Designing the right plan with the required documentation
  • Selecting and coordinating the implementation with the right service providers (Plan Administrator or TPA, Record Keeper, Custodian etc.…)
  • Choosing the right investment vehicles
  • Recommending the appropriate portfolio allocation
  • Monitoring performance and fees on an ongoing basis
  • Promoting employee participation by providing employee education programs

Fees are not charged on any balances over the last $1,000,000 bracket.  

This pricing structure insures that the total annual fee will never be higher than 10 basis points or 0.10% of assets. Employee education programs are not covered under this pricing structure and can be determined on a case by case basis. 

Final fees and services to be provided will be listed and explained in a service agreement. The above price structure is provided for information purposes only and fees published on this website are subject to change without prior notice.

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Personal Financial Planning

Here at Dagel Financial, we believe in charging solely for the services provided. We are convinced that Index Investing beats Active Management overtime in addition to being low cost and tax efficient. We prefer No-Load Index Mutual Funds over Exchange Traded Funds (ETFs) while they both have very low fees, the offering price of a Mutual Fund share is not affected by the number of purchases or redemptions of the same shares. We are convinced that a well-executed Financial Plan should increase your chances of reaching your financial goals.  

The Securities and Insurance industries are able to charge a lot in asset based fees and/or commissions becuase it is very difficult for the public to understand or tract what it is actually paying for.  There are many layers of fees that can be easily hidden and customers are unable to perceive the impact of fees when they are deducted directly from accounts that are constantly in flux because of market conditions

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A FOCUS ON MANAGING COSTS AND RISKS

We believe it makes more sense to focus on managing costs and risks rather than chasing returns over which we have no control. The Standard Poor’s Index versus Active (SPIVA) score card shows that a very large number of actively managed funds often do not even beat their benchmark Index. 

No-Load Index Mutual Funds and Exchange Traded Funds (ETFs) track Indexes and also offer the lowest fees in the industry. However, we recommend using No-Load Index Mutual Funds instead of ETFs because their share values are not affected by their amount of purchases and redemptions. 

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OUR APPROACH

At Dagel Financial, we also believe people benefit from having a well formulated financial plan. This will allow them to take a more comprehensive approach when making financial decisions, increase their chances of achieving their financial goals and provide a framework when facing emergencies and/or opportunities. The plan should be monitored on a regular basis.

Planning increases your chances of achieving your goals. A good plan addresses the client’s personal needs, uses the latest technology, has the highest probability of success and provides detailed (not cookie cutter) recommendations based on the client’s specific needs.

  

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WE LISTEN TO YOUR UNIQUE WANTS AND NEEDS

The best Financial Plan is based on the client’s financial and non-financial information. We help our clients organize and prioritize their goals, listen to their perceptions, views and opinions about issues important to them. Based on this open dialogue, we provide our clients with a final, detailed set of recommendations based on the choices they have made.  Finally, if desired, we will also help them implement and keep track of their progress through annual reviews and account rebalancing services. 

Our overall goal is to empower our clients to make the best selections in order achieve their desired financial goals. Our job is to help them increase their chances using our knowledge, experience, resources and tools. We provide them with options, make them aware of the costs and benefits and assist them in implementing the option they select, not the one we think is best.

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THE IMPORTANCE OF A FINANCIAL PLAN

A financial plan will help us determine what our clients need to do with current assets and how much is required in future savings. A well designed plan will help us search for the portfolio allocation with the highest probability of success within the client’s risk tolerance. We will then develop a strategy which will consider tax saving opportunities based on a low cost index investing approach using No-Load Index Mutual Funds when available. The plan will also help determine if there is a need for Life, Disability, or Long Term Care insurance allowing us then to provide detailed recommendations including amounts and types of coverage.

All information will be provided in a binder to include a:

  • Plan of Action
  • Detailed Recommendations
  • Financial Analysis
  • Additional Supporting Documentation

OUR HOURLY FEE IS $200 

FLAT FEES ARE BASED ON THE CLIENT’S NEEDS NOT THEIR NET WORTH OR ASSETS 

Hourly or Flat fee planning,  

We provide hourly planning services at a very moderate rate of $200 per hour.  Hourly financial planning fees tend to be between $150 and $400.

We also offer our clients the opportunity to work on a Flat Fee basis.  In doing so, our clients will always know their maximum exposure in advance and will not be billed more that quoted even if we work more than expected.  Half of the minimum quoted amount, up to $500, is requested as a down payment to initiate services.

Fees are provided for information purposes only and are subject to change at any time without prior notice.

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You Don't Need to Have a Fortune to Start Building One

Why not get started today?

Schedule a meeting

Meetings are available by appointment only. We offer a complimentary thirty-minute consultation for all new clients.  At the end of the consultation, we will provide you with a minimum and maximum quote for our services.  This is an opportunity, both for us to meet you to determine if we can help as well as for you to decide if we are the kind of advisor you are comfortable working with.

Phone

305-671-3168 

Office Address

8900 Southwest 117th Ave, Suite C-108,
Miami FL 33186