Item 5 – Fees and Compensation
In certain circumstances, all fees and account minimums are negotiable.
The specific manner in which fees are charged by SAXWA is established in a client’s written agreement
with SAXWA. Investment Management and Employee Benefit Plan clients will generally be charged in
advance at the beginning of each calendar quarter based upon the value (market value based on
independent third-party sources or fair market value in the absence of market value; client account
balances on which SAXWA calculates fees may vary from account custodial statements based on
independent valuations and other accounting variances, including mechanisms for including accrued
interest in account statements) of the client’s account at the end of the previous quarter. New accounts
are charged a prorated fee for the remainder of the quarter in which the account is incepted.
For Investment Management and Employee Benefit Plan Services, SAXWA will request authority from the
client to receive quarterly payments directly from the client's account held by an independent custodian.
Clients may provide written limited authorization to SAXWA to withdraw fees from the account. Clients
will receive custodial statements showing the advisory fees debited from their account(s). Certain third-
party administrators will calculate and debit SAXWA’s fee and remit such fee to SAXWA.
A client agreement may be canceled at any time, by either party, for any reason upon receipt of fourteen
(14) days’ written notice. Upon termination of any account, any prepaid, unearned fees will be promptly
refunded.
SAXWA’s fees are exclusive of brokerage commissions, transaction fees, and other related costs and
expenses which shall be incurred by the client. Clients may incur certain charges imposed by custodians,
brokers, third party investment and other third parties such as fees charged by managers, custodial fees,
odd-lot differentials, transfer taxes, wire transfer and electronic fund fees, and other fees and taxes on
brokerage accounts and securities transactions. Mutual funds and exchange traded funds also charge
internal management fees, which are disclosed in a fund’s prospectus. These fees will generally include a
management fee and other fund expenses. All fees paid to SAXWA for investment advisory services are
separate and distinct from the fees and expenses charged by mutual funds and ETFs to their
shareholders. For 1031 exchange and DST advisory services, SAXWA charges a one-time project fee or
an ongoing management fee based on the value of the investment, as negotiated and documented in the
client agreement. Clients should be aware that DST investments often involve significant upfront costs,
including selling commissions, organizational expenses, and acquisition fees paid to the DST sponsor,
which are separate from and in addition to SAXWA’s advisory fee.
Advisory Fees
Investment Management Services
The annual fee for investment management services will be charged as a percentage of assets under
management, according to the schedule below:
Assets Under Management Annual Fee (%)
On the first $1,500,000 1.00
On the next $1,500,000 0.80
On the next $2,000,000 0.60
On the next $2,000,000 0.55
On all amounts thereafter 0.45
All accounts for members of the client’s family (husband, wife and dependent children) or related
businesses may be assessed fees based on the total balance of all accounts. In certain other cases, the fee
schedule may be negotiated.
SAXWA imposes a minimum fee of $15,000. The minimum fee may be negotiable under certain
circumstances. Certain pre-existing investment management services clients may be on a different fee
schedule.
Legacy clients who join SAXWA from other firms are typically subject to the legacy fee schedules charged
by those firms. The non-standard fee schedules, which are reflected in the agreements with those clients,
have different rates and/or tiers that result in fee rates that are in some cases lower, and in other cases
are higher than SAXWA’s standard fee schedule shown above.
Employee Benefit Plan Services
The annual fee for plan services will be charged as a percentage of assets within the plan.
Assets Under Management Total Fee
On the first $1,000,000 0.90%
On the next $4,000,000 0.60%
On the next $5,000,000 0.33%
On all amounts above $10,000,000 0.20%
SAXWA may charge a minimum annual fee for start-up retirement plans, based on complexity. The
specific fee to be charged is included within the client’s agreement.
Not-For-Profit Fee Schedule
Assets under management Annual Fee (%)
First $1 million 0.65%
Next $1 million up to $2 million 0.60%
Next $3 million up to $5 million 0.40%
Next $5 million and up 0.30%
Comprehensive Financial Planning Services
Financial Planning fees will be charged in one of two ways:
1. Financial planning fees will be charged as a fixed fee generally ranging from $2,500 to $50,000,
depending on the nature and complexity of each client’s circumstances and upon mutual
agreement with the client.
2. Under very limited circumstances Financial Planning fees will be charged on an hourly basis at a
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