Fees are based on assets under management and are billed quarterly in advance, debited directly from the client's account. The minimum account size is generally $100,000, but may be waived. The annual program fee is 1.00% on the first $2,500,000, 0.75% on the next $2,500,000, and 0.50% on amounts over $5,000,000. Fees may be negotiable. Clients are responsible for transaction fees charged by Schwab. Any prepaid, unearned fees will be promptly refunded upon termination of any account.