The advisory fee is negotiated between the client and the Investment Advisor Representative and generally ranges from 0.50% to 2.00%. The fee is calculated based on the account value and is prorated and deducted monthly or quarterly in arrears. If assets are allocated to a third-party money manager, clients will incur additional fees charged by that money manager. The fee does not include transaction fees, brokerage commissions, or other fees associated with any transaction or account. The fees charged to family members of associated persons of the Firm, or its affiliates may be lower than fees charged to other clients, or no fees may be charged at all.