Frequently Asked Questions

Our team of experts creates your personalized Financial Plan based on your current financial situation and goals. You benefit from our proprietary analysis and the insights of T. Rowe Price investment and asset allocation experts and CERTIFIED FINANCIAL PLANNER^™ professionals. CFP^® professionals are trained to take a comprehensive view of financial situations and have completed robust competency and ethical requirements under professional standards governing CFP^® professionals.

Your Financial Advisor is here to answer your questions and help you get on track and stay on track to meet your financial goals.

Your Financial Plan consists of point-in-time planning, asset allocation, and T. Rowe Price fund advice for your retirement and other financial goals. Plan features will include:

Yes – when creating your Financial Plan, we include any accounts you identify. These can be your current T. Rowe Price investment accounts as well as non-T. Rowe Price accounts.

Your T. Rowe Price retail accounts will be automatically included in our analysis, including: mutual fund accounts, T. Rowe Price Brokerage investments in IRA or taxable accounts, etc.

To include your 401(k), SEP IRA, SIMPLE IRA, or Education Plan Savings Plan or trust accounts serviced by T. Rowe Price, simply give us your permission in the Terms of Service.

The Financial Plan is intended to include assets or accounts that are owned and controlled by you and/or your co-client for your benefit or the benefit of members of your household and have corresponding goals in the Financial Plan. It is your responsibility to determine which assets and accounts and their corresponding goals are appropriate to include in your Financial Plan and to remove or exclude any inappropriate assets and accounts from the Financial Plan. Please talk with your Financial Advisor if you have questions.

It’s important for us to have up-to-date information about your financial situation so that when we create your personalized plan and make recommendations, they reflect your current situation and goals.

Yes – your plan is available from your planning details page as a reference.

We use your questionnaire responses regarding your investing time horizon and risk tolerance to guide our recommendation. Each model portfolio is tailored for a specific risk tolerance and time horizon and invests in a carefully selected, diversified mix of T. Rowe Price funds mutual funds and ETFs. We may adjust your recommended model portfolio based on additional information you provide, such as income and expenses, or upon further review of certain factors, such as the probability of success of the initial recommended model portfolio compared to the probability of success of a model portfolio with a lower risk profile.

T. Rowe Price investment and asset allocation experts design the model portfolios, including selection of the underlying T. Rowe Price funds mutual funds and ETFs in the models. They also make allocation decisions and regularly review the fund selection.

Our experts have deep knowledge of asset allocation and portfolio construction, and benefit from ongoing communication with our investment professionals in the field around the world.

Only T. Rowe Price mutual funds and ETFs are available in this program. Your recommendation consists of a diversified portfolio of our actively managed mutual funds and ETFs and is backed by our strategic investing approach. Our investment professionals have deep knowledge of asset allocation and portfolio construction. They developed each of the broadly diversified portfolios to align with a specific risk tolerance and time horizon.

Our team of experts creates your personalized Financial Plan based on your current financial situation and goals. You benefit from our proprietary analysis and the insights of T. Rowe Price investment and asset allocation experts and CERTIFIED FINANCIAL PLANNER^™ professionals. CFP^® professionals are trained to take a comprehensive view of financial situations and have completed robust competency and ethical requirements under professional standards governing CFP^® professionals.

For clients who enroll in the discretionary management portion of the service, your Financial Advisor is here to connect all the pieces and provide you with ongoing guidance, so you get on track and stay on track towards the goals that are important to you and your family.

Yes, complete our questionnaire and we will have our team of CERTIFIED FINANCIAL PLANNER^™ professionals create a personalized Financial Plan based on your current financial situation, goals and risk tolerance. If you determine that enrolling in the discretionary management portion of the service is not the right fit for you, you can use our recommendation to self-implement your accounts.

The total cost of advice is expected not to exceed 0.9% of assets under management. The total cost includes both the net advisory fee and the fees and expenses of the underlying funds held in your household’s advisory accounts.

The average net advisory fee for the T. Rowe Price Retirement Advisory Service, using all primary funds and neutral portfolio weightings, is 0.5% of assets we manage for you. Your actual net advisory fee will vary based on your recommended portfolio, the specific mix of funds in your managed portfolio and their fees and expenses. The estimated net advisory fees for the model portfolios ranged from 0.41% - 0.55% as of April 2025.¹ The net advisory fee will be automatically deducted from your account in 12 monthly installments, in arrears.

For additional information on the fees and expense of the program, please read the Fees and Compensation section of the Retirement Advisory Service ADV Brochure.

Clients enrolled in the discretionary management portion of the service are invested in I Class shares of the T. Rowe Price mutual funds, when available.

Yes. Our clearing firm, Pershing LLC, will notify you regarding shareholder communications and proxy statements. You will be responsible for voting any proxy statements.

Rebalancing is the act of periodically realigning your portfolio to the target asset allocation of your assigned model portfolio in a tax-aware manner.

Our investment professionals generally rebalance based on account drift—when an asset class or investment goes above or below its target allocation by a predefined amount.

Our investment professionals may choose to change their rebalancing methodology at any time. Keep in mind that regular additions or withdrawals may impact the time between rebalancing.

No, T. Rowe Price investment professionals take care of the day-to-day investment and trading decisions in your account. That’s one of the benefits of this program. 

You can always request to contribute to or withdraw from your account. Trades must be received before 12 p.m. ET for same day processing. Requests received after 12 p.m. ET but before market close may be processed the next business day.

During severe market declines, the U.S. equity markets may halt trading and the NYSE may close early (i.e., prior to 4:00 p.m. ET). If the NYSE closes early before 12 p.m. ET, we will use our best efforts to process and execute withdrawal requests on the same business day for requests that are received in good order on the given business day prior to the early market close.

You can process contributions or withdrawals online or by speaking with your Financial Advisor. Online withdrawals are limited to 3% of your account per day. Any amount in excess of 3% must be done over the phone with your Financial Advisor. If you have questions or need assistance, please contact your advisor.

You can use T. Rowe Price mutual funds and ETFs. Other securities held in your T. Rowe Price Brokerage account must first be sold with the proceeds showing as an available balance in your sweep account to fund your new account. 

We won’t charge a commission or fee when we sell T. Rowe Price mutual funds and ETFs in your program account. However, for brokerage or outside investment holdings, there may be other fees or costs, such as back-end loads, depending on the security or fund family you select to fund your new account.

Mutual funds and ETFs both offer diversification and professional investment management. In the case of our active ETFs, our investment professionals apply the same rigorous research and collaborative process as we do in managing our mutual funds, so you benefit similarly from our experience and expertise in active management. Mutual funds are purchased and redeemed at the fund’s net asset value once per day at market close (generally 4 p.m. ET) and ETFs are continuously traded throughout the day on exchanges, like stocks, at their market prices, which can be different from the ETF’s net asset value. ETFs are generally considered a more tax-efficient vehicle than mutual funds.

To learn more about T. Rowe Price ETFs, please click here.

Both mutual funds and ETFs generally offer shares that represent a basket of underlying securities. For investors, both can provide an opportunity to increase diversification, which is an important part of any investment strategy. Investing in a portfolio that includes a variety of assets helps mitigate market risks related to a single company, geographic region, or industry.

In general, ETFs have some distinct advantages over conventional mutual funds.

We are constantly looking for ways that may enhance Retirement Advisory Service. Given the expense ratio and tax-efficiency benefits of ETFs, we believe now is the right time to make this exciting change.

While the total cost of ownership of ETFs is generally lower than that of conventional mutual funds, ETFs do have some expenses that are not present within a mutual fund structure that clients should be aware of. Investors bear transaction costs when ETFs are traded. These could include the market bid/ask spread and other transaction costs, which could be considerable. While T. Rowe Price does not charge commissions for trades in T. Rowe Price ETFs, commissions and fees may also apply when ETFs are traded outside of T. Rowe Price.

For those who own investments in a taxable account, this change may have tax implications. Clients with taxable accounts could realize gains or losses upon the implementation of the ETFs. If you have enrolled taxable accounts in the program, we strongly encourage you to speak with your financial advisor to discuss your specific situation.

ETFs will become an integral part of Retirement Advisory Service. You are not able to “opt out” of ETFs while a Retirement Advisory Service client. However, our program will continue to offer alternate funds for adding flexibility and personalization. We reserve the right to limit the number of alternate funds present within a portfolio to ensure the resulting portfolio is consistent with our best thinking.

We will reach out once a year to ask you to schedule an annual review appointment with your dedicated Financial Advisor. During this appointment, we will review your portfolio to make sure it’s still aligned with your goals and needs. Your Annual Review is an opportunity to let us know if you have any changes in your life or your preferences that may warrant an update to your financial plan and the model portfolio for your account.