Advisory fees are negotiated and typically expressed as a percentage of total assets under advisement or a flat fee. Fees are payable quarterly, in advance, based on the market value of the client's assets. Flat fees generally range from $10,000 to $250,000 annually. Occasionally, advisory services are quoted on an hourly or per diem basis. Some clients pay advisory fees in arrears. Fees may be subject to negotiation depending on plan size and services requested.