Reinaldo Alonso-Malubay

Managed Account Advisors and Merrill Lynch charge an asset-based fee called the Account Fee, which consists of two parts:

• Investment Management and Trust Fee — Paid to Bank of America for its services, with rates set in your client agreement and subject to negotiation based on your portfolio value and account size.
• Style Manager Expense — Paid to the specific manager of your chosen strategy, generally ranging from 0.00% to 0.50% per year, and does not change based on portfolio size.

Total fees vary depending on the specific strategies and account size, and are deducted directly from your account on a regular basis.