City National Rochdale's Wrap Program charges a bundled annual fee covering investment advisory and program costs. The Investment Advisory Fee is 1.00% on the first $2,000,000 of assets, 0.80% on the next $3,000,000, 0.60% on the next $5,000,000, and 0.50% on amounts above $10,000,000. The Program Fee ranges from 0.11% to 0.01% based on account value. Fixed income trades incur transactional costs. A separate fee may be paid to a Referring Partner. Clients are also responsible for miscellaneous administrative fees charged by Pershing.