Item 5 – Fees and Compensation
A. Description.
ACCESS is compensated exclusively by its clients. ACCESS does not receive compensation in any form
from investment companies, brokerage firms or custodians. Fees are negotiable. ACCESS may, at its sole
discretion, charge a lesser asset management fee based upon certain criteria (e.g., historical relationship,
familial relationship to an existing client, type of assets, anticipated future deposits, account composition,
etc.).
Financial Planning. The fee for a financial plan is predicated upon the facts known at the onset of the
engagement. The fee range for financial planning is typically between $1,500 and $3,000 for the initial
plan. The fee is based on the complexity of a client’s situation and the time and personnel that is required
to complete and present the initial financial plan.
Fees for financial planning, and project-based fees, are billed at the following hourly rates: Advisor - $250,
Technical - $150, Clerical - $50.
After delivery of the initial financial plan, clients may schedule additional meetings requesting assistance in
implementing recommendations. Follow-up by the staff of ACCESS to implement recommendations is
billed separately at $150 per hour. Any implementation expense is fully disclosed and approved by a client
prior to these services being provided.
Limited Engagement. Fees for a limited engagement of services are billed at the following hourly rates:
Advisor - $250, Technical - $150, Clerical - $50.
Asset Management, Supervision, and Monitoring. For assets managed and/or supervised by ACCESS,
the annual fee schedule is as follows: 1.00% on the first $2,000,000, .75% on the next $1,000,000, and .5%
for any amounts over $3,000,000.
For assets monitored by ACCESS, the annual fee is .3% for all monitored investments. Assets may be
monitored for the purpose of providing a consolidated investment portfolio statement for a client.
B. Payment of Fees.
Financial planning and limited engagement fees are billed and payable at completion and delivery of the
plan, or completion of the engagement.
Asset management, supervision, and monitoring fees are deducted from the Managed Accounts. Fees are
deducted quarterly in advance of the quarter. Quarterly fees are calculated on the ending balance of the
assets managed, supervised, and monitored from the previous quarter.
C. Other Fees or Internal Investment Expenses.
Custodians may charge transaction fees for purchases or sales of mutual funds, exchange-traded funds,
equity investments and fixed income investments among others.
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Investments selected by ACCESS may also contain internal expenses associated with them. Mutual funds
generally charge management fees for the services provided by them as investment managers. Any
management fee, along with other related costs is included in the “operating expense ratio” (OER) of the
mutual fund. Mutual funds that offer “no transaction fee” (NTF) tend to have a higher operating expense
ratio (OER) than transaction fee mutual funds and therefore may be more expensive in the long run. Lower
cost shares may be available outside of a brokerage firm’s NTF platform by paying a transaction fee.
Other types of investments or other investment managers may have internal expenses related to the
management of a particular investment. All internal expenses associated with a particular investment are
disclosed in the investment prospectus or offering memorandum.
These expenses are paid by the client, and are in addition to any fees paid to ACCESS.
D. Termination of Agreement.
In the event that the Financial Planning Agreement is terminated, any unearned fees will be returned to the
client.
In the event that the Asset Management, Supervision, and Monitoring Agreement is terminated, fees
collected in the quarter of termination will be retained by ACCESS to provide termination services to the
client.
E. Compensation for the Sale of Securities.
ACCESS and its employees are not compensated for the sale of securities.