We offer clients of substantial worth, a committed professional approach to
growing, protecting, and investing their wealth. We are a CPA owned company dedicated
to providing financial guidance.
 Steven G. Schwartz, CPA, JD, PFS
Steve founded Wealth Design Services to
complement his role as a partner in a certified public accounting firm in
Rochester, New York. His vision is to provide clients with the opportunity to
form a relationship with high level, independent professionals capable of
supporting a wide range of personal financial needs.
Steve has 30 years of experience in the area of personal finances and taxes.
He is a member of the American Institute of Certified Public Accountants and the
New York State Bar Association. He is active in the community and has been
president of the Estate Planning Council of Rochester, Vice Chairman of the
Rochester General Hospital Board of Trustees. He currently serves on the Board
of the Jewish Community Federation of Rochester, the Volunteer Legal Services
Project of Rochester, the Rochester General Hospital Foundation, and Rochester
Arts and Lectures.
Our Service Philosophy
You need assurance that your financial assets will be both protected and
developed. We understand the privilege we are given when asked by our clients to
help enhance the value of those assets – knowing that we are really being asked to
help enhance the value that those assets can bring to our clients' lives, the
lives of their children, and to the life of their community.
We are committed to providing services that are, at the same time, responsive
and anticipatory, knowledgeable and comprehensive, integrated and thorough.
Through our efforts, we hope that our clients will be free of the anxiety and
frustrations inherent in managing financial affairs. We want our clients to be
able to focus their energies and resources in ways that best serve their
purposes.
Our Investment Philosophy
Our investment recommendations flow from a personalized discovery process.
The results of our discovery process and our conversations are captured in a personal
investment policy statement that will serve as a roadmap for both future
decision-making and re-evaluation of past decisions.
As CPA's, we are very sensitive to the tax costs of changing investment
managers. Tax and transition costs will be reviewed prior to any final
recommendation.
We rely extensively on low cost asset class funds and investment strategies
especially designed for the needs of individuals (as opposed to institutional
investors). By melding your personal planning process with your investment
process, we build portfolios with a view toward income taxes, life cycle
changes, legacy, risk tolerance and, of course, investment opportunity.
Wealth Design Services and/or one of its
principles are members of:
Tax Return Services
Kathryn is a new client that needs help with her income taxes. She would like
a relationship with an experienced tax accountant.
She chose Wealth Design Services because she believes that, in the future,
she will need help from an experienced advisor that she knows and trusts to
assist her in helping parents through their retirement.
Fees for tax return services: Hourly rates with a minimum fee of $600.
Investment Policy Statement Services
Dick and his wife, Jane, are 50 years old and have, like many of their
friends, built up quite a collection of investment accounts over the years. Both
Dick and Jane moved around a bit due to employment changes. There are IRA
accounts, personal savings, and an account that Jane inherited when her mother died.
Each account has its own story and is invested in a way that made sense at the
time. The immediate problem was that they really didn’t know what to do with
un-invested cash that was building up.
Wealth Design Services was asked to evaluate all of their accounts and help
to develop a long-term investment strategy. Many of the advisors that they had
spoken with only wanted to talk about money that they could manage. At Wealth
Design Services, they were able to receive help in structuring the entire
holdings – including their retirement accounts at work.
Fees for Investment Policy Statement Services: $2,500 (average)
Wealth Management Services
Suzanne is a recent widow at age 70. Her husband, Bob, took care of
everything when it came to money. It seemed overwhelming to try to learn
everything that Bob knew. Suzanne also wanted someone who would work well with
her adult children.
Suzanne chose Wealth Design Services because she wanted help in a range of
areas. She needed help understanding her investments and making sure she was not
overpaying taxes. With the loss of part of Bob’s pension, she wanted to make
sure that she could afford her lifestyle. There were other questions as well.
Should she buy long-term care insurance? Should she keep paying those life
insurance premiums? Can she afford to help her grandkids with college costs? She
did not know how to approach all of these questions in a coordinated way. Wealth
Design Services was a perfect solution because of their versatility and
independence. Suzanne could feel safe that she was receiving "advice"
and not a "sales presentation".
| Tier |
Account Size |
Annual Fee |
| 1 |
On the first $1,000,000 |
1% |
| 2 |
On the next $1,000,000 |
.75% |
| 3 |
On the next $1,000,000 |
.65% |
| 4 |
On the next $2,000,000 |
.6% |
| 5 |
Over $5,000,000 |
.5% |
Fees are negotiable and due quarterly in arrears from funds under
supervision. Our minimum fee is $1,875 per quarter. These fees are separate from
and do not include any transaction charges, fund expenses or fees charged by
investment managers selected with our assistance.
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