Fees and Compensation
A. TFIP’s fee and compensation arrangements vary by Client. As compensation for its services, TFIP
generally utilizes a tiered, blended fee schedule based on the amount of assets under management (the
“Management Fee”). The Management Fee is based on the services provided by the Firm and is separately
negotiated with each individual Client on a case by case basis. Generally, the blended Management Fee ranges
up to 125 basis points (1.25%) per annum.
B. The Firm, or the adviser to whom it is providing sub-advisory services, generally deducts the
Management Fee directly from Client accounts. The Management Fee is prorated and charged on a monthly
or quarterly basis.
C. TFIP’s Clients may incur expenses such as brokerage commissions, transaction fees and other related
costs and expenses separate and apart from the Management Fee. Clients may incur certain charges imposed
by custodians, brokers, administrators, distributors, transfer agents and other third parties, custodial fees,
deferred sales charges, odd-lot differentials, transfer taxes, wire transfer and electronic fund fees and other fees
and taxes on brokerage accounts and securities transactions. A Client’s portfolio may include positions in
mutual funds or exchange traded funds which also charge internal management fees, which are disclosed in
those funds’ prospectuses. TFIP does not receive any portion of these commissions, fees, and costs.
Clients are advised that if securities transferred into the Client’s account are sold, there may be transaction
costs, fees assessed at the mutual fund level (i.e., contingent deferred sales charge), and/or potential tax
ramifications. TFIP does not provide tax advice as part of its advisory services and is not qualified to do so.
Clients are encouraged to consult a qualified tax adviser regarding tax matters.
The Clients may incur brokerage and other transaction costs. Please see Item 12 of this Brochure for a further
description of the Firm’s brokerage practices.
D. The Management Fee is generally charged in advance. In the event the advisory engagement is
terminated after the inception of a billing period, the unearned balance is prorated and refunded to the Client
to reflect the partial term of service.
E. Neither the Firm nor any of its supervised persons receive, directly or indirectly, any compensation
from the sale of securities or other investment products.