Item 5: Fees and Compensation
A. Fee Schedule
Lower fees for comparable services may be available from other sources.
Portfolio Management Fees
Total Assets Under Management Annual Fees
$500,000 - $1,000,000 1.10%
$1,000,001 - $2,000,000 0.85%
$2,000,001 - $5,000,000 0.70%
$5,000,001 - $10,000,000 0.50%
$10,000,001 - $15,000,000 0.40%
$15,000,001 - $25,000,000 0.30%
$25,000,001 - AND UP 0.25%
EWA uses the value of the account as of the last business day of the billing period, after
taking into account deposits and withdrawals, for purposes of determining the market
value of the assets upon which the advisory fee is based.
These fees are generally negotiable and the final fee schedule will be memorialized in the
client’s advisory agreement. Clients may terminate the agreement without penalty for a
full refund of EWA's fees within five business days of signing the Investment Advisory
Contract. Thereafter, clients may terminate the Investment Advisory Contract generally
with 30 days' written notice. Fee increases will only take effect once the Client indicates
their acceptance in writing.
Pension Consulting Services Fees
Total Assets Under Management Annual Fees
$500,000 - $1,000,000 1.10%
$1,000,001 - $2,000,000 0.85%
$2,000,001 - $5,000,000 0.70%
$5,000,001 - $10,000,000 0.50%
$10,000,001 - $15,000,000 0.40%
$15,000,001 - $25,000,000 0.30%
$25,000,001 - AND UP 0.25%
EWA uses the value of the account as of the last business day of the billing period, after
taking into account deposits and withdrawals, for purposes of determining the market
value of the assets upon which the advisory fee is based.
Pension Consulting Fees and Portfolio Management Fees, where we are engaged on behalf
of a pension plan, are blended and included in the services provided to the pension fund.
Where an individual plan participant chooses to place additional investments under our
management, we will enter into a separate pension consulting agreement with that
individual, whose fees will be determined on a standalone basis.
These fees are generally negotiable and the final fee schedule will be memorialized in the
client’s pension consulting agreement. Clients may terminate the agreement without
penalty for a full refund of EWA's fees within five business days of signing the Pension
Consulting Agreement. Thereafter, clients may terminate the Pension Consulting
Agreement generally with 30 days' written notice.
Standalone Financial Planning Fees
Financial planning fees which are combined with portfolio management is offered at no
additional fees. In rare occasions the firm may offer stand-alone financial planning, in
those instances there will be additional fees for the financial planning service.
The hourly fee for these services is between $280 and $400 per hour. The fees are
negotiable, and the final fee schedule will be attached as Exhibit II of the Financial
Planning Agreement.
Clients may terminate the agreement without penalty, for full refund of EWA’s fees,
within five business days of signing the Financial Planning Agreement. Thereafter, clients
may terminate the Financial Planning Agreement with upon written notice.
EWA may also provide financial planning services on a consulting basis to other
registered investment advisers for a negotiated fee. These fees are typically hourly or
project-based and are disclosed in the consulting agreement with the advisory firm.
B. Payment of Fees
Payment of Portfolio Management Fees
Asset-based portfolio management fees are withdrawn directly from the client's accounts
with client's written authorization on a quarterly basis. Fees are paid in arrears.
Fee formula description: For purposes of calculating the client’s portfolio management
fees described above, an example is offered below for a sample $1,500,000 account:
· For that portion of the client’s account(s) up to $1,000,000 the adviser will charge an
annual fee of 1.10% as described above, resulting in an annual fee of $11,000 on the first
$1,000,000;plus
· For that portion of the client’s account(s) exceeding $1,000,001 but not exceeding
$2,000,000, the adviser will charge an annual fee of 0.85% as described above, resulting in
an annual fee of $4,250 on the portion between $1,000,001 and $1,500,000.
This would result in a total annual fee of $15,250 on the sample $1,500,000 account.
Payment of Standalone Financial Planning Fees
Standalone financial planning fees are paid via check or wire in arrears upon completion
of the plan.
Payment of Pension Consulting Services Fees
Pension consulting fees are withdrawn directly from the client's accounts with client's
written authorization on a quarterly basis. Fees are paid in arrears. Fee formula description:
For purposes of calculating the client’s portfolio management fees described above, an
example is offered below for a sample $1,500,000 account:
· For that portion of the client’s account(s) up to $1,000,000 the adviser will charge an
annual fee of 1.10% as described above, resulting in an annual fee of $11,000 on the first
$1,000,000;plus
· For that portion of the client’s account(s) exceeding $1,000,001 but not exceeding
$2,000,000, the adviser will charge an annual fee of 0.85% as described above, resulting in
an annual fee of $4,250 on the portion between $1,000,001 and $1,500,000.
This would result in a total annual fee of $15,250 on the sample $1,500,000 account.
C. Client Responsibility For Third Party Fees
Clients are responsible for the payment of all third party fees (i.e. custodian fees,
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