NTSI clients pay an investment advisory fee based on a percentage of the assets managed. Fees may vary based on investor circumstances, account size, investment strategy, and the overall relationship with Northern Trust. There are separate fee schedules for Fixed Income SMA strategies and for Fund Strategist Portfolio, Strategist UMA, Equity and Balanced SMA strategies. In addition to the advisory fee, individual investments held in your managed account are subject to product level fees. A client must maintain a minimum account balance and accounts are subject to a minimum annual fee, which vary by Wrap Program. A portion of your fee is paid to FIWA and NFS, as well as applicable brokerage and transactions charges. Employees and retirees of Northern Trust may be eligible for discounted pricing, subject to stated annual minimum fees.