For non-discretionary advisory services outside the Wrap Fee Program, the firm charges an annualized fee of 0.50% of the account value, billed quarterly. For the Wrap Fee Program accounts, the annualized fee ranges from 1.00% to 2.00% based on AUM (see table above). The minimum investment for advisory services is $500,000, while the Wrap Fee Program requires a minimum of $250,000. Lower fees may be available from other sources or negotiated for family members of employees or other advisory clients.