Frequently asked questions

Unlike firms that primarily manage investment portfolios, Mercer Street combines financial planning, tax planning, and investment advice into one coordinated process. Every recommendation is evaluated through the lens of taxes, cash flow, investments, estate planning, and long-term family goals.

Yes. Mercer Street provides advice designed to serve the client's best interests, rather than recommending products that generate commissions.

No. Many clients simply hire Mercer Street for advice while maintaining their existing investment accounts.

Yes. Although headquartered in Houston, Mercer Street works virtually with clients throughout the United States and internationally when appropriate.

We can work with you wherever you are in life, but we find that our services tend to appeal to international professionals, business owners (including self-employed) and families with college-bound children. We'd love to work with you if you want help making the most out of your financial life; whether that's help with making smarter moves related to your personal finances, or crafting and putting into action a financial plan that puts you in control of your financial life. We have the expertise and experience to help you get there; we call it "planning for life."

We work with clients on an hourly basis (time-based) and we do not require account minimums.

We can work with you on an as-needed basis. We track the time we spend working with you in person, as well as behind the scenes, and bill for those services monthly in arrears. We track our time by the minute.

If the work is a one-time project (for example, reviewing your portfolio), we will give you an estimate of the cost of the work. The cost of the work is dependent on the complexity of your financial situation and the scope of the project. The engagement letter outlines the anticipated scope of work, the expected cost range of the engagement and the deliverables to be given at the end of the project. Please note that, other than our flat-fee comprehensive financial plan, project work is not a flat or fixed fee arrangement unless agreed to otherwise; the actual cost of hourly services could be MORE or less than what is quoted in the engagement letter.

We believe that ongoing financial planning offers the most benefits to clients because life changes over time and so do one's personal finances (and tax situation!). By maintaining an ongoing relationship, clients are able to keep on top of their finances more easily, stay motivated to implement recommendations, and perhaps most importantly: AVOID COSTLY MISTAKES.

If you reside in Houston, we can meet you at a place that is convenient for you. If you reside outside of Houston - and even if you live in Houston - we can conduct meetings via video conference or phone call. We are available on-call to help you with urgent financial matters; we aim to respond to emails and phone call messages within 24 hours unless it's the weekend or a U.S. holiday.

There are several ways we can work with you, but two popular options are as follows.

The first option is an "ask us anything" format where you meet with us to ask questions about anything you'd like financial guidance on.

The second option is a personalized financial plan like this one that is tailored to your specific financial situation. In preparing your financial plan, we will meet with you to understand your financial goals and objectives (we use the Kinder method of financial life planning), and securely collect information such as your most recently filed tax return, brokerage statements, insurance policies, employee benefits guide and other information that will help us see your financial picture. Should you wish to engage us to help you put your plan into action, we would be happy to work with you. Fees for plan implementation services may be separate and distinct from the creation of the financial plan and could be subject to a new engagement letter, unless agreed to otherwise.

Please note that we require a client-signed engagement letter before we will begin working with you. Additionally, we may require a retainer, which is an upfront payment of fees, before we start any work.

A comprehensive, personalized financial plan is a flat US$5,000. Implementation work is billed at US$450 per hour. Ad hoc planning is US$600 per hour with a two-hour (US$1,200) minimum.

We believe that charging for our services using a time-based method (i.e., "hourly") is the fairest and most transparent way to price our services.  Many professional services are priced based on the amount of time spent working on behalf of a client (e.g., lawyers and accountants).  When compared to commission or asset-based fee structures (these types of fee structures are called "fee-based" in industry parlance), time-based pricing can be significantly lower in cost than fee-based. For example, if you were to work with a traditional wealth management firm, they will usually have a minimum investment amount and typically charge 1% per year of the value of the assets they are managing for you. So, if you have a $1 million dollar investment portfolio that is professionally managed by a wealth management firm, the firm will charge you a fee of $10,000 per year--assuming your account value stays level, over a ten-year period you'll have paid $100,000! 1% may not seem like a lot, but it can be a significant drag on your investment returns over time. We do not charge asset-based fees, nor do we require account minimums.

We estimate the cost of planning services based on the amount of time we anticipate meeting with you and putting together deliverables (if applicable). Complex planning needs usually require more time than basic planning needs. For example, if you are married or have a partner, own a business and/or rental properties, or utilize trusts, then your financial situation is likely a lot more complex than someone who is single and has a steady salary. Therefore, the former can expect to pay more for financial planning services than the latter.

"Advice-only" means that we do not manage investments or charge clients based on how much they have to invest, which can create more inherent conflicts of interest and limits who we can serve. Advice-only is a very small but growing movement in financial services that is a subset of the fee-only dictum (see below).

"Fee-only" means that we do not sell financial products, nor do we receive commissions or referral fees. We are solely compensated by the fees you pay directly to us for the services we render to you. While no compensation structure can remove all potential conflicts of interest, we believe that being fee-only and advice-only greatly reduces conflicts of interest between what's in your best interest and what's in our best interest. Along those same lines, the term "fiduciary" means that we must always put your interests ahead of our own.

We do not usually prepare personal or business tax returns. We would be happy to refer you to a tax professional if you are looking for tax compliance help. In the rare instances that we do prepare tax returns, the cost of those services is separate and distinct from the cost of financial planning and investment advisory services. We do offer tax consulting services on a stand-alone basis.

We can advise clients on investments that are appropriate for them based on various factors such as their risk profile, investment time horizon, and investment objectives. We do not typically manage clients' investments. We believe that clients are best served by managing their own investments with guidance from us. If you'd like someone to manage your money, we'd be happy to refer you to one or more qualified investment advisers.

There is no universal minimum. However, comprehensive financial planning often provides the greatest value for households with significant assets, multiple income sources, business ownership, executive compensation, international issues, or complex tax situations.

Comprehensive wealth planning coordinates:

• investments
• taxes
• retirement
• estate planning
• insurance
• charitable giving
• business planning
• education funding
• cash flow
• family wealth transfer

Rather than treating each area separately, they are managed together.

Many affluent households begin working with an advisor once they have accumulated several million dollars in assets or face increasingly complex financial decisions that require coordinated planning.

Common mistakes include:

• paying unnecessary tax
• holding concentrated stock positions
• outdated estate plans
• poor asset location
• failing to coordinate CPA and investment advice
• inadequate liability protection
• neglecting international tax rules
• waiting too long to transfer wealth

Tax planning means making financial decisions throughout the year to potentially reduce lifetime taxes rather than simply preparing tax returns after the year has ended.

Strategies may include:

• Roth conversions
• charitable gifting
• tax-efficient investing
• capital gain management
• business entity optimization
• qualified charitable distributions
• donor-advised funds
• tax-loss harvesting

The appropriate strategies depend on each family's circumstances.

Tax preparation reports what already happened. Tax planning helps shape future decisions before they occur.

Yes. Investment decisions, retirement withdrawals, charitable giving, estate planning, business sales, stock options, and Social Security timing can all affect lifetime taxes.

Business owners often need guidance on:

• business succession
• retirement plans
• entity selection
• cash reserves
• owner compensation
• estimated taxes
• business valuation
• exit planning
• liquidity events

Preparation often begins years before a sale by addressing taxes, personal cash flow, estate planning, investment diversification, and business value.

The answer depends on:

• payroll
• industry risk
• seasonality
• borrowing capacity
• business volatility
• personal financial goals

Yes. Financial planning for Americans abroad often involves U.S. tax rules, foreign investments, retirement accounts, estate planning, and cross-border financial coordination. We may not be able to offer investment advice if you live in a jurisdiction that we are not licensed in (e.g., the U.K.), however, we can work with financial advisors who are licensed in your country of residence.

Yes. Planning may include immigration considerations, cross-border taxation, foreign assets, retirement planning, and long-term residency decisions.

The answer depends on the investment type, country, account structure, and applicable tax treaties. Professional guidance can help families avoid costly reporting mistakes.

There is no universal answer. The decision depends on tax implications, currency exposure, legal requirements, estate planning, and investment objectives.

The amount depends on spending goals, investment income, taxes, Social Security, pensions, healthcare costs, and longevity. There is no single retirement number that works for everyone.

Sometimes. The decision depends on your current tax bracket, expected future tax rates, estate goals, retirement timeline, and available cash to pay taxes.

Tax-efficient retirement income coordinates withdrawals from taxable, tax-deferred, and tax-free accounts to potentially reduce lifetime taxes.

Most families should review estate planning documents every three to five years or after significant life events.

Not every family needs a trust. However, trusts may help accomplish goals involving privacy, asset protection, tax planning, charitable giving, and multigenerational wealth transfer.

Many families combine thoughtful gifting strategies with financial education, trusts, and clearly defined family values.

Diversification typically involves spreading investments across asset classes, industries, geographies, and tax categories while maintaining an allocation aligned with long-term goals.

Holding concentrated stock can create significant investment risk. Many executives benefit from developing a tax-aware diversification strategy.

Tax-efficient investing seeks to improve after-tax returns by considering asset location, tax-loss harvesting, capital gains management, and investment turnover.

Families with substantial wealth often reach a point where coordinating investments, taxes, estate planning, philanthropy, insurance, and family governance becomes increasingly complex. A family office—or a family office-style advisory relationship—can provide integrated oversight.

A traditional financial advisor may focus primarily on investments. A family office coordinates virtually every aspect of a family's financial life, often including tax planning, estate planning, cash flow, philanthropy, and outside professional relationships.