BWM has two fee structures: "Advisory Fee One" (wrap fee, includes commissions) and "Advisory Fee Plus" (asset management fee plus separate commissions). The Program Fees may not exceed 1.75% of assets under management. The total management fee varies depending on factors like assets invested, complexity, and servicing needs. Similar clients could pay different fees. The management fees are divided between BWM, MMLIS, and the IAR. The IAR receives a separate fee determined by MMLIS. BWM receives any residual fee not paid to the IAR and MMLIS.