Investment management fees are based on a percentage of assets managed: 1.40% on the first $500,000, 1.00% on the next $500,000, and 0.80% on assets over $1 million. These fees cover asset allocation advice, money management, financial planning, and custodial services, but clients also pay transaction charges. Fees for general consulting and retirement plan services are negotiated separately. A minimum of $500,000 in investible liquid assets is generally required to open and maintain an advisory account, but this may be waived.