Penobscot's fees are charged quarterly based on the market value of assets under management. The standard annual management fee is 1.00% on the first $1,000,000, 0.80% on assets between $1,000,000.01 and $1,999,999.99, and 0.60% on assets of $2,000,000 and above. When Penobscot serves as Trustee, the annual management fee is 1.25% on the first $1,000,000, 1.05% on assets between $1,000,000.01 and $1,999,999.99, and 0.85% on assets of $2,000,000 and above. Fees are negotiable in certain circumstances. Clients may elect to have fees deducted from their accounts or be billed directly. Clients may incur additional fees charged by mutual funds and ETFs. Clients have the option to purchase investment products through other brokers or agents that are not affiliated with Penobscot, which may incur an additional fee.