ITEM 5 - FEES AND COMPENSATION
Daniels + Tansey’s fees are dependent upon the client’s choice of the aforementioned services available in its
advisory business.
Investment Advisory Services Fees – listed below is the standard fee schedule based on assets under
management:
Equity and Balanced Accounts
First $2,000,000 1.25%
Next $3,000,000 .75%
Next $5,000.000 .60%
Next $10,000,000 .30%
$20,000,000 + Negotiated
Fixed Income Only
First $2,000,000 .50%
Next $3,000,000 .35%
Next $5,000.000 . 25%
Next $10,000,000 .20%
$20,000,000 + Negotiated
Enhanced Cash Management
First $2,000,000 .35%
Next $3,000,000 .25%
Next $5,000.000 . 20%
Next $10,000,000 .15%
$20,000,000 + Negotiated
Daniels + Tansey typically charges fees based on a “tiered” schedule as indicated above. As such, the effective
rate is blended based on assets within each tier (e.g., a $3,000,000 balanced portfolio would be charged 1.25%
on the first $2,000,000 and .75% on the next $1,000,000). Fees are aggregated or grouped (where indicated in
the client agreement) to achieve agreed upon breakpoints.
As a general matter, fees are charged on a pro-rata basis quarterly in advance or in arrears, as mutually agreed
upon with the client and as outlined in the client’s agreement. Fees are based on the closing market value of
the account, including cash and cash equivalents, on the last day of the calendar quarter. Fees include any
accrued interest for fixed income products and do not take into account cash deposits or withdrawals after the
billing cycle. For new client accounts, Daniels + Tansey will perform a “look back” in the next quarterly billing
cycle and bill the new account from the date trading began in the account. Our firm generally requests that
clients provide permission to have fees deducted automatically from the qualified custodian account. Clients
will be provided with a quarterly statement from their qualified custodian reflecting the deduction of the
advisory fee.
While it is the general policy of Daniels + Tansey to charge fees to its clients in accordance with the fee schedules
noted above, the fees are subject to negotiation and may vary from these schedules to reflect circumstances
that may apply to a specific client account. For example, fees may differ from those stated herein because of
long-standing relationships, anticipated client additions to assets under management, employee-related
accounts, grand-fathering of accounts, changing market conditions or for other reasons.
A client may terminate the investment advisory agreement upon written notice to Daniels + Tansey and
termination is effective upon receipt to our firm. When an account terminates without client prior notification,
we will consider the client has terminated when the account(s) has become de-linked or the assets have been
completely removed from the account(s). Upon termination, fees paid in advance will be prorated and any
unearned portion thereof will be returned to the client. The refund will be calculated based on the number of
days remaining in the billing period after the date of termination. Fees paid in arrears will be pro-rated and any
earned portion thereof will be due to Daniels + Tansey. The fee will be calculated based on the number of days
during the billing period that the account was managed before the date of termination.
Use of Sub-advisors
As previously disclosed in Item 4, Advisory Business, Daniels + Tansey utilizes the services of sub-advisors for
certain client circumstances. When employing the services of a sub-advisor for a client’s account, the sub-
advisory fee is charged directly to Daniels + Tansey and not the client. The client does not pay additional or
separate fees for the use of sub-advisors.
Wealth Management Services Fee
Daniels + Tansey charges clients a minimum annual Wealth Management Services Fee of $2,000, typically billed
quarterly. The first payment is due upon execution of the Agreement. Quarterly billing will commence
beginning with the next calendar quarter. Fees will be charged in advance and are typically automatically
deducted from the client’s qualified custodial account. In such case, clients will receive a quarterly statement
from their qualified custodian reflecting a deduction of the advisory fee. This fee is separate from investment
management fees. For certain clients, and at Daniels + Tansey’s sole discretion, our firm has chosen to waive
Wealth Management Services fees.
Multi-Family Office Services Fee
Daniels + Tansey charges clients a minimum annual Multi-Family Office Services Fee of $25,000, billed quarterly.
Such fees may greatly exceed the minimum based upon the level of services elected by the client. The first
payment is due upon execution of the Agreement. Quarterly billing will commence beginning with the next
calendar quarter. Fees are typically automatically deducted from the client’s account with the qualified
custodian. In such case, clients will be provided with a quarterly statement reflecting a deduction of the
advisory fee.
Financial Planning and Consulting Fee
Financial planning and consulting services are billed on an hourly basis at rates ranging from $75 to $400. In
addition to fees for services, out-of-pocket expenses relating to the consulting arrangement are also billed to
the client. These include travel time and reasonable mileage reimbursement, photocopying fees, report
binding, long distance telephone charges, etc. The services of the firm may be provided on a retainer basis in
which case a fee is due at the onset of this engagement. Should fees exceed the retainer, excess fees will be
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