Fees and Compensation
Tiered Investment Supervisory Services Fees for Full Service Individuals
Total Assets Under Management Standard Annual Fee
Up to $500,000 1.10%
$500,000 up to $1,000,000 0.80%
$1,000,000 up to $3,000,000 0.70%
$3,000,000 up to $5,000,000 0.60%
$5,000,000 up to $10,000,000 0.40%
$10,000,000 up to $15,000,000 0.35%
$15,000,000 up to $20,000,000 0.30%
$20,000,000 and Above 0.25%
Tiered Fee Schedule for Endowment/Not for Profit Accounts
Total Assets Under Management Standard Annual Fee
Up to $200,000 1.00%
$200,000 up to $500,000 0.60%
$500,000 up to $1,000,000 0.55%
$1,000,000 up to $3,000,000 0.50%
$3,000,000 up to $5,000,000 0.45%
$5,000,000 up to $10,000,000 0.35%
$10,000,000 up to $15,000,000 0.30%
$15,000,000 up to $20,000,000 0.25%
$20,000,000 and Above 0.20%
The annualized fees for Investment Supervisory Services for full service individuals and
Endowment/Not for Profit accounts are charged on a tiered fee schedule as a percentage of
assets under management, calculated on an average daily balance for the quarter. When you
use tiered rates, the portfolio management fee is calculated by applying different rates to
different portions of the portfolio. MWM may group certain related client accounts for the
purposes of determining the annualized fee.
These fees are negotiable. Fees are paid quarterly in arrears and clients may terminate their
contracts with notice. Because fees are charged in arrears, no refund is necessary. Clients may
terminate their accounts without penalty within 5 business days of signing the advisory contract.
5 | ADV 2 & 2b
Payment of Investment Supervisory Fees
Advisory fees are withdrawn directly from the client’s accounts with client written
authorization or billed directly. Clients are responsible for the payment of all third-party fees
(i.e. custodian fees, mutual fund fees, transaction fees, etc.). Those fees are separate and
distinct from the fees and expenses charged by MWM. Please see Item 12 Brokerage Practices
of this brochure regarding broker/custodian.
MWM collects its fees in arrears and under no circumstances will MWM require prepayment of
a fee more than six months in advance and in excess of $1,200.
Neither MWM nor its supervised persons accept any compensation for the sale of securities or
other investment products, including asset-based sales charges or services fees from the sale of
mutual funds.
Any MWM created trade errors that result in a net debit to client accounts will be debited against
MWM’s Error Account and the client made whole. If MWM created a trade error that resulted in
a net credit that amount will be donated to a charity of MWM’s choice.