Michael Kostelnik is a registered investment advisor at Family Life Financial Planning, based in Mentor, OH, with 20 years of industry experience. Michael operates on a fee-only basis, meaning they do not earn commissions from product sales. Their practice areas include Estate Planning, Financial Planning & Coaching, Insurance Planning, Investment Management, and 2 more. Their firm serves 34 clients with $5.5M in assets under management.
Compensation
Firm Size
Number of Clients
Average Client Portfolio
Assets Under Management
Fee Structure
Family Life Financial Planning offers investment management services with or without financial planning.
With Financial Planning (for accounts over $190,000):
- $0-$50,000: 2.00% per year
- $50,001 - $100,000: 1.75% per year
- $100,001 - $250,000: 1.25% per year
- $250,001 - $500,000: 1.00% per year
- $500,001 - $1,000,000: 0.75% per year
- Over $1,000,000: 0.5% per year
Without Financial Planning (for accounts under $190,000):
- $0-$50,000: 2.00% per year
- $50,001 - $100,000: 1.75% per year
- $100,001 - $190,000: 1.25% per year
There is a minimum annual fee of $3,000, billed $750 per quarter, for accounts with financial planning. Clients with less than $190,000 in assets under management will be assessed a financial planning fee on top of the asset management fee to bring the total annual fee to the $3,000 annual minimum. All fees are negotiable.
Location
8350 Tyler Blvd, Mentor, OH, 44060
Get directionsHistory
Regulatory History
No disclosures, customer disputes, or regulatory actions on file.
Disclosures include customer complaints, regulatory actions, and other events that advisors must report to the SEC. A clean record means none have been reported.
Learn about disclosures →Other Business Activities
Michael is a volunteer board member for Big Brothers Big Sisters of North East Ohio DBA Torchlight Youth Mentoring, a non-profit organization, since 2016. He dedicates minimal time to this role.
Employment History
Current Registrations
Family Life Financial Planning
Previous Registrations
Cetera Advisor Networks LLC
Cetera Advisor Networks LLCBroker
Walnut Street Securities, INC.
Walnut Street Securities, INC.Broker
Morgan Stanley
Morgan Stanley Dw INC.Broker
State Registrations1 state
You can work with an advisor not registered in your state. Most advisors can legally serve a small number of clients across state lines without registering.