We keep our asset management fees very reasonable by relating them directly to our costs of providing the services. To keep asset management fees down, and to ensure that current clients are not subsidizing new clients, we charge each new investment management client an account establishment fee to cover our costs of establishing the new account relationships. This fee helps us to recoup our costs for establishing new accounts and preparing to report on performance and asset allocation. The account establishment fee usually is between $300 and $1500, and is larger when there are:

• More accounts to establish
• More accounts to report and rebalance
• More accounts to transfer
• More securities (stocks and mutual funds) to sell
• Dollar cost averaging transactions (if you wish to phase in your investment)