5 Fees and Compensation
Asset Based Fees for Advisory Clients
For its advisory Clients, United Advisors Services shall charge an annual fee based upon a percentage of
the market value of the assets being managed by United Advisors Services. United Advisors Services’
annual fee is exclusive of, and in addition to, brokerage commissions, transaction fees, and other related
costs and expenses which shall be incurred by the Client. United Advisors Services’ annual fee shall be
prorated and charged either monthly or quarterly, in advance, based upon the market value of the assets
on the last day of the previous month as determined by the Client’s custodial firm. As discussed in Item 4
of this Brochure, United Advisors Services requests a minimum portfolio size of $100,000 per relationship
(which may include the aggregate of multiple accounts for any one relationship) and a minimum advisory
fee of $2,000. United Advisors Services, in its sole discretion, may negotiate to charge a lesser
management fee based upon certain criteria (i.e., anticipated future earning capacity, anticipated future
additional assets, amount of assets to be managed, related accounts, account composition, pre-existing
Client, account retention, pro bono activities, etc.).
Total Management Fees
You and your IAR will agree on your total annual management fee for each account prior to establishing
the account. The total annual management fee is the sum of the program fee, advisory fee and
administration fee(s). The advisory fee may be amended by a client and an IAR through the submission of a
new investment advisory agreement with a different fee schedule. There are maximum allowable annual
advisory fees for each program and we will not allow you to be charged more than this amount. The
maximum allowable advisory fee will differ between programs and the structure of your account(s). This
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maximum total fee is noted on the investment advisory agreement and may not exceed 3.00% and may be
subject to minimum account fees as discussed above.
Fee Schedules
Each advisory program that is offered by UAS or through an affiliate of UAS or independent manager
requires its own fee schedule. The fee schedule in your specific investment advisory agreement will outline
the fees for the program, the advisory fee and any other third-party fees payable to technology or
platform providers such as Envestnet. The advisory fee is generally negotiable with your IAR. Any program
fee paid to UAS or an affiliate as a Program Sponsor or a third-party independent manager is paid to us or
the third-party independent manager directly and is nonnegotiable. The fees payable to UAS for the
program that it sponsors which utilizes portfolio management technology provided by Orion Advisors
varies from %0.40 to a maximum of %0.90 depending on the structure of the client account. The amount of
your advisory fee, as a percentage, may remain the same regardless of the size of your account, or the
percentage may decrease as your account balance increases if certain asset levels are reached and
maintained. In addition to the advisory fee and any program fee, UAS may charge a $150 annual
administration fee (invoiced either monthly or quarterly). The administration fee covers portfolio
reporting and related services.
Clients may make additions to and withdrawals from their account(s) at any time, subject to United
Advisors Services’ right to terminate an account. If assets are deposited into an account after the inception
of a month that exceed 100% of the beginning balance of the account, the fee payable with respect to such
assets will be prorated based on the number of days remaining in the month. Clients may withdraw
account assets on notice to United Advisors Services, subject to the usual and customary securities
settlement procedures. United Advisors Services designs its portfolios as long-term investments and
assets withdrawals may impair the achievement of a Client’s investment objectives.
For the initial month of Investment Advisory Services, the first month’s fees shall be calculated on a pro
rata basis. As discussed in Item 4 of this Brochure, the Agreement between United Advisors Services and
the Client will continue in effect until terminated by either party pursuant to the terms of the Agreement.
United Advisors Services’ monthly fee shall be prorated through the date of termination and any remaining
balance shall be charged or refunded to the Client, as appropriate, in a timely manner.
Advisory fees for Investment Advisory Services are generally paid through a debit directly to the Client’s
account by the qualified custodian holding the Client’s funds and securities. The following criteria is met in
accordance with the Advisers Act , when payment is made via a qualified custodian: (1) The Client provides
written authorization permitting the fees to be paid directly from the Client’s account held by the
independent qualified custodian and the authorization is limited to withdrawing contractually agreed upon
Investment Adviser fees; (2) The frequency of fee withdrawal shall be specified in the written
authorization/agreement; (3) The qualified custodian of the account(s) shall be advised in writing of the
limitation on the Adviser’s access to the account; (4) The custodian agrees to send to the Client, a
statement, at least quarterly, indicating all amounts disbursed from the account including the amount of
advisory fees paid directly to the Adviser; (5) The Client shall be able to terminate the written billing
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authorization or agreement at any time. In addition to the general debits to the Client’s account by the
qualified custodian as described above, fees may be paid to us by check, as outlined in the specific
investment advisory agreement. In such instances, we will send an invoice to the Client for the fees owed.
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