Fees are calculated as a percentage of the market value of assets under management and are billed monthly in arrears. The minimum annual fee is $5,000. Actual client fees may vary based on householding, account inception date, and other factors. Fees are negotiable in certain cases based on account size, relationship pricing, and services required. Clients will also incur expenses such as mutual fund and ETF expenses, and management fees paid to third-party managers.