The firm charges an annual fee based on a percentage of assets under management. This fee varies between 0.0% and 2.0% and is calculated monthly in arrears. The advisory fee is based on the relationship, assets managed, and services provided, and is negotiated on an individual basis. Some client assets may not incur an annual fee if listed in writing in the client's agreement. Clients may also incur custodial fees and other third-party charges. The firm may also charge an administrative expense in the form of a flat fee payable monthly. The firm generally imposes a minimum portfolio value for its investment management services, but may waive it at its discretion.