True all-in cost
What does this portfolio actually cost you each year?
Three line items: AUM advisory fee, weighted fund expense ratio, and an estimate of annual tax drag derived from your asset mix and federal marginal rate. Shown neutrally; the data tells the story.
Tax drag inputs
Stocks throw off qualified dividends + small long-term capital-gain distributions; bonds throw off ordinary-income interest. We estimate each separately and total them.
Federal marginal rate: 32% — based on $500,000 of taxable income, married filing jointly, using the 2026 schedule. Bond drag uses this rate; stock drag is held flat at 0.5% to represent typical qualified-dividend + small LT-gain churn on indexed equity.
Total annual cost
$46,240
231 bps · 2.31% of portfolio
| Line item | Annual $ | bps |
|---|---|---|
| AUM advisory fee | $20,000 | 100 |
| Fund expense ratios | $10,000 | 50 |
| Stock distribution drag (0.5% × $1,200,000) | $6,000 | 30 |
| Bond interest tax ($800,000 × 4.00% × 32%) | $10,240 | 51 |
The full Cost & Performance feature in Ironlake compares your all-in cost to your IPS policy benchmark, breaks out tax drag from actual realized distributions per holding, and generates a quarterly meeting agenda for advisor conversations.
Open IronlakeIllustrative only. Uses the 2026 federal bracket schedule and a flat 0.5% stock-distribution drag (typical for indexed equity; active funds can run materially higher). Assumes the entire portfolio sits in a taxable account — does not model asset location, tax-deferred or tax-free shelters, NIIT, state tax on bond interest, capital-gain distributions from active funds, or per-holding turnover. Consult your tax and investment professionals.