Item 5 – Fees & Compensation
If a Plan Sponsor enters into an agreement for recordkeeping services with a participating recordkeeper
as a result of the Program, the recordkeeper will collect an asset-based fee on our behalf from the plan
and transmit the fee to us for providing the Program services. Our standard annual fee for the Program
service is 5 basis points of plan assets based upon the value of such assets as determined solely by the
plan’s recordkeeper (the “Program Fee”). This Program Fee may be negotiable based upon the nature,
scope and/or frequency of our services.
The Program Fee will be paid quarterly in arrears. Unless we agree otherwise in writing, all applicable
Program Fees shall be based upon the total value of the assets in the plan account without regard to any
debit balance.
In some cases, we will also be compensated by certain third parties, including recordkeepers that may or
may not participate in our above-referenced Program, for providing data to them relating to fee
benchmarking, plan success metrics or other data as described in our Privacy Policy. Because the Program
relies exclusively upon objective metrics supplied by Plan Sponsors and bids from participating
recordkeepers, our receipt of such payments for data from third parties does not present a conflict of
interest that would affect the information we provide to Plan Sponsors.
For the technological back office support and information services it provides to subadvisers, BidMoni
generally charges an annual fee of 10 basis points of the assets under the subadviser’s management
through BidMoni’s technology platform. This fee is paid quarterly in arrears by the subadviser based on the
aggregate value of client accounts as of the last day of the quarter. This fee may be negotiable upon the
nature, scope and/or frequency of our services.
In the event the Plan Sponsor elects to engage a third-party RIA in connection with the above-referenced
Solicitation Services, the plan’s recordkeeper will also collect the RIA fee described above, which includes
our fee for Solicitation Services.
We will not receive any compensation from investment companies in connection with or as a result of the
Solicitation Services.
None of the fees we receive cover any execution, custody, clearing or settlement services, investment
management fees charged by mutual funds, third-party managers, etc. It is solely the responsibility of the
Plan Sponsor to determine whether such third-party fees are reasonable and to verify the accuracy of all
payments of such fees from their plans.
Custody of all plan assets will be maintained with a third-party custodian selected by the Plan Sponsor, and
plan recordkeeping will be provided by an unaffiliated, third-party recordkeeper selected by the Plan
Sponsor. Plan Sponsors will be solely responsible for paying all fees or charges of the custodian and
recordkeeper. We will not be responsible or liable for recommendations or services rendered by third party
service providers (“Other Providers”) or the Other Provider’s compliance with applicable laws.
The plan’s custodian, recordkeeper or the Plan Sponsor will be responsible for arranging for the execution
of securities transactions through a broker-dealer it believes can provide best execution. We will not have
any discretionary authority or responsibility over the administration of any plan or for the interpretation of
plan documents, the determination of participant eligibility, benefits, vesting, or the approval of the
distributions to be made by the plan.