The FKSC Wrap Fee Program charges an annual fee based on assets under management. The fee covers advisory services, administrative expenses, custody charges at RBC Advisor Services, and brokerage services when trades are conducted through RBC. The program requires a minimum of $10,000 of assets under management, but this may be negotiable. Fees are billed quarterly, in advance, based on the account value at the end of the previous quarter. The fees do not cover brokerage through other brokers, custody elsewhere, or fund expenses.