Virtus Capital Advisers, LLC

VCA does not maintain a standard fee schedule for discretionary advisory services to Wrap Programs managed by third-party Sponsors. The advisory fees are typically negotiated with, and paid by the Sponsor pursuant to an investment management agreement. The advisory fees vary by Sponsor and strategy but are generally between .33% and .75% of total assets under management. VCA does not maintain a standard fee schedule for non-discretionary model delivery advisory services. The advisory fees vary by model recipient and by strategy and are negotiable but generally between 0.33% and .75% of total assets under management. Fees may be payable in arrears or in advance, typically on a quarterly basis. Fees and features of each program vary and therefore, you should consult the Sponsor’s brochure for the specific fees and features applicable to your program. VCA recommends affiliated and unaffiliated investment advisers or model providers to provide non -discretionary investment advisory services in the CDP Program and is paid a fee for such service in accordance with VCA’s agreement with MAA. The fees received from the style managers vary by specific agreement and strategy and are negotiable but generally up to .10% of total assets under management is paid to VCA by style managers that it recommends to MAA, to manage model portfolios in the CDP.