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Practice Management > Compensation and Fees

Joe Votava

By Staff Writer

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Joe Votava

Nixon Peabody, LLC

P.O. Box 31051

Clinton Square

Rochester, New York 14603-1051

[email protected]

www.nixonpeabody.com

Law firm founded: Around 1870

Joined the firm: 1985

Advisory subsidiary founded: 2000

Number of planners/staff in advisory subsidiary: Six professionals split their time between the law firm and the advisory subsidiary

Number of clients of the advisory subsidiary: 150

Number of clients of his own: 40-50

Compensation method: Fee-only (50% hourly fees, 35% fixed annual retainers, 15% asset-management fees)

Average fee for a comprehensive plan: Ranges anywhere from $3,500 to $100,000. Plan is not a once-and-done document, but an ongoing process

Fee for managing assets: 0.75% to 1.5%

Hourly rate: $300 to $500

Client demographics: 60% corporate executives and 40% high-net-worth families. Net worths range from $5 million to $100 million

Education: B.B.A. from Siena College (New York); J.D. from University of Dayton School of Law

Previous incarnations: Accountant with Coopers & Lybrand

Professional designations: CPA/PFS, CFP

Outside interests: Volunteering for the FPA and the National Endowment for Financial Education (NEFE), playing basketball, playing golf, spending time with family