Brown Advisory charges fees based on a percentage of assets under management. Fees are negotiable and may vary depending on client circumstances, scope of services, and account size. For Private Clients with portfolios greater than $5 million, the standard fee schedule starts at 1.00% on the first $5 million. For portfolios less than $5 million, the fee is 1.25% on the first $3 million and 1.00% on the next $2 million. Endowments & Foundations fees are negotiated, with maximum fees generally 0.75%. OCIO client maximum fees are generally 0.30%. Private equity fund-of-funds management fees typically range from 0.0% to 0.50% per annum. Venture capital fund management fees generally range from 1.5% to 2%. Hedge fund-of-funds management fees typically range from 0.40% to 1.25%.