Other questions we help you answer
- Cash flow: How much should I keep in emergency savings, and is my spending supporting my goals?
- Retirement savings: Should I use a Roth, a backdoor or mega backdoor Roth, or roll an old 401(k) into an IRA? When should I claim Social Security?
- Taxes: Should I itemize or bunch deductions? Do Roth conversions make sense for me? Am I withholding the right amount? Should I protest my property taxes?
- Investments: Is my asset allocation right for my goals, are my funds low-cost, and are they held in the right accounts?
- Insurance and risk: Is my umbrella coverage enough for my net worth? Do I need disability, term life or long-term care insurance? (We don't sell insurance.)
- Estate planning: Do my documents, beneficiary designations and account titling still match my wishes? Would my family know how to access my crypto? (Documents are drafted by your attorney.)
- Employee benefits: Which health plan and HSA choices fit, and what's the right retirement plan if I'm self-employed?
- College: 529 plans, Coverdell accounts and gifting toward education.
- Credit, identity and online security: Should I freeze my credit, and how should I protect my financial accounts?
- Asset protection: Would an LLC for my taxable investments make sense, alongside my estate plan?
- Decisions as they come up: open enrollment, an equity grant, a job offer, a business sale or an entity and compensation analysis, or a move to or from the United States.
To see the kind of analysis we work through together, watch this example we prepared for a prospective client.
Planning with you, not for you
Most of the work happens with you in the meeting. You share a few documents up front, such as a recent statement or tax return, and then we work through the analysis together: we enter your information into our financial planning software, run the numbers and talk through what they mean. You see the assumptions and the trade-offs for yourself, you can ask "what if" as we go, and you leave understanding the answer rather than just holding it.
The conversation starts with what you want your money to do for you, not just the figures.
How we approach investments
We give investment advice; we don't take over your accounts. Your money stays at the brokerage you choose, you keep control, and we don't charge a percentage of what you own. Here is what you can expect from our advice:
- Your investment profile first. Before we make investment recommendations, we collect the information needed to give suitable advice, such as your age, financial situation, investment experience, time horizon and risk tolerance, through a questionnaire and a risk assessment. We then write an investment policy statement with your liquidity needs, time horizon, risk profile and a target asset allocation, and it becomes the yardstick for later decisions.
- Low-cost, diversified funds. We generally recommend broad index mutual funds and exchange-traded funds rather than individual stocks, and we look hard at expense ratios. We'll recommend individual securities only if you ask for that advice.
- Tax-aware placement. Because we also do your tax planning, we recommend which account type should hold each asset so it's taxed least: bonds and other income-heavy holdings in tax-deferred accounts, stock funds in taxable or Roth accounts where that makes sense, and CD ladders or cash where you'll need money soon.
- No market timing. We don't trade on headlines and we'll talk you out of it too. Long-term investors live with short-term swings; we'll help you set up a portfolio you can stick with.
- Rebalancing and review when you want it. We'll check your portfolio against your policy statement on request, usually alongside year-end tax planning, and flag what's drifted.
- Crypto only on request. We don't recommend cryptoassets as part of a core portfolio. If you hold or want them, we'll explain the risks and the tax treatment and help you decide deliberately whether and how they fit.
The full description of our methods and the risks of investing is in our Form ADV Part 2A brochure. Investing involves risk of loss, and past performance doesn't guarantee future results.
What to expect on the first call
The fit meeting is a free, 20-minute video or phone call. Its only purpose is to work out whether we're the right firm for what you need, and, if so, what the work might involve. There is nothing to prepare and no documents to send. Reading our FAQ beforehand will save you time, and spouses and partners are encouraged to join.
On the call, Ryan will ask:
- What prompted you to reach out now, and what decision or question is in front of you
- A broad picture of your situation: work, family, where you live and whether any of it crosses a border
- What you've already tried or been told, and what a good outcome would look like for you
You'll leave the call knowing whether we're a fit, what the work would involve, roughly how many hours it might take and what the next step is. If we're not the right fit, we'll say so and point you to someone who is. There's no sales pitch and no obligation; work starts only after you sign an engagement letter.
The fit meeting is always virtual. Later meetings are virtual by default too, by video or phone, but if you'd rather meet in person, meetings at the Bellaire office are available by appointment (see Contact for directions and parking).
How a working session works
| When | What happens | What you do |
|---|---|---|
| Before | We agree on the questions you want answered and let you know what to have on hand. If taxes are in scope, that usually includes your most recent tax return. If you want investment recommendations, you complete a short questionnaire and risk assessment first. | List your questions and gather the few items we ask for. |
| During | Usually by video with a shared screen. We enter your information into our planning software together and work through each question: the numbers, the assumptions and the options. | Fill in the details, ask questions and test the "what ifs." |
| After | Any analysis that's better done offline, such as a tax projection or checking a rule that applies to you, happens between sessions at the same hourly rate. | Decide what to act on and whether you want another session. |
Coming back for more help
You decide whether and when to work with us again. Later work is billed at the same rate, $600 per hour, under an engagement letter that sets out what we'll do. There is no subscription or monthly fee, no percentage of your assets, and no required check-in schedule: you decide when you need us. As with any engagement, we may ask for a retainer against the estimated hours, which is applied to the work as it's done.
The work usually falls into one of these buckets:
| Type of work | Examples | When it tends to come up |
|---|---|---|
| Putting recommendations into action | Opening or retitling accounts, rolling over an old 401(k), setting up a backdoor Roth or a solo 401(k), updating beneficiaries, moving to the target allocation | After a session, if you want help following through |
| Tax planning through the year | A year-end projection and the moves that go with it, Roth conversion sizing, estimated payments, charitable bunching, analyzing your return for planning opportunities | Fall, and again after your return is filed |
| Decisions as they arrive | Open enrollment, an equity grant or tender offer, a job offer, a home purchase or sale, a move to or from the United States, a business sale | Whenever they land |
| Portfolio check-ins on request | Comparing your accounts with your investment policy statement, flagging drift, rebalancing recommendations | Often paired with year-end tax planning |
| Revisiting the numbers | Rerunning the projections after a major life change: a child, a new business, an inheritance, a divorce, retirement | When something big shifts |
A few things stay the same. Your accounts stay where they are, in your name and under your control; we advise and help you implement, but we don't take discretion or hold your assets. Time is tracked by the minute and billed monthly in arrears. We aim to respond to emails and phone messages within 24 hours, except on weekends and U.S. holidays. An engagement letter runs for a year; to keep working together after that, we renew it in writing.
If you'd like to know roughly what a piece of work will cost before we start, ask and we'll estimate it in hours. The engagement letter spells out the expected range; as with any hourly work, the actual time can come in above or below it.
Who we're not right for
We'd rather tell you up front than waste your free fit meeting. Mercer Street is probably not the right firm if you:
- Want someone to manage your investments for you. We advise on your portfolio and help you implement changes, but we don't take custody or trade accounts, and we don't charge a percentage of assets.
- Want product recommendations. We don't sell insurance, annuities or investment products and don't accept commissions or referral fees, so if you're looking for someone to place a product, we'll point you to a specialist.
- Only need a tax return prepared. We do tax planning, not tax compliance; we'll refer you to a preparer and coordinate with them.
- Want advice bundled into a single asset-based fee. We bill by the hour, and the rate is published above.
- Want an answer without sharing any numbers. Good advice depends on your actual figures, and every engagement starts with them.
If any of those describes you, we'll say so on the first call and suggest where to look instead.
Tax consulting for individuals and businesses
Tax consulting is available on its own, for individuals and businesses. That can include analyzing your tax returns and recommending strategies to potentially lower your tax bill. We don't provide tax compliance services such as preparing returns, but we're glad to refer you to a qualified tax professional.
Business consulting
Business consulting suits owners who need help managing the financial side of their companies. We can serve as an outsourced Chief Financial Officer (CFO), or as an outsourced financial planner to other investment advisers. We don't provide attestation services; we can refer you to a licensed CPA firm for compilation, review, audit, or agreed-upon procedures.