Fees vary based on the IAR and services provided. Financial planning is billed hourly, ranging from $150 to $250 per hour. Portfolio management fees are negotiable, up to a maximum of 1.25% annually, billed quarterly in advance. Institutional advisory service fees are individually negotiated. Minimum annual fee of $5,000 for Full Service 3(21) and 3(38) Programs. Some clients' fee schedules are based on prior contractual arrangements and/or historical fee schedules that differ from our current fee arrangements.