Cheryl Wichers

Fees for investment management and advisory implementation services vary by strategy, product type, account size, and customization requirements, and are determined through negotiation and set forth in the written agreement with each client. For Enhanced Portfolio Implementation services, fees are typically calculated as a percentage of the value of assets in the account and billed quarterly in arrears. Overlay solutions generally incur a variable fee based on notional exposure or an annual base fee for daily analysis, while active positioning strategies may involve performance-based fees. Clients may also incur additional expenses such as custodial charges, brokerage commissions, transaction costs, and underlying fund expenses.