The fee for portfolio management is based on a percentage of assets under management. For all-equity, balanced, or customized accounts, the fee ranges from 1.25% on the first $3 million to 0.75% on assets over $10 million. For fixed-income accounts, the fee ranges from 0.60% on the first $10 million to 0.30% on assets over $20 million. Fees are billed quarterly in advance. Fees are negotiable depending on individual client circumstances. Mutual fund/529 plan accounts held directly with American Funds will be assessed a separate fee ranging from 0.25% to 1.00% annually.