Our Fees
The following are the fees charged by FPIS, Inc. for services provided. Lower fees for comparable services may be available from other sources.
| Total Assets Under Management | Annual Fee |
|---|---|
$0 - $200,000 | 1.25% |
$200,001 - $600,000 | 1.00% |
$600,001 - $1,000,000 | 0.75% |
$1,000,001 - $1,400,000 | 0.675% |
$1,400,001 - $1,800,000 | 0.65% |
$1,800,001 - $4,000,000 | 0.60% |
$4,000,001 and Above | Negotiable |
FPIS, Inc. will not be compensated on the basis of a share of capital gains upon or capital appreciation of the funds or any portion of the funds of the Account. There is no account minimum, but if account balances fall below $200,000 FPIS, Inc. will review and rebalance the accounts less frequently.
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*Tax services include tax preparation for basic tax returns. Tax preparation for more complex returns may need to be prepared by a CPA firm. Tax services are generally including for all clients with assets under management greater than $600,001. All clients with assets under management below this threshold may still have their taxes prepared by FPIS, Inc. but will incur a separate bill based on the forms required to complete the tax return. The cost could range from $125 - $600 depending on the amount of forms required to complete the return on behalf of the client. Any fees incurred by a client for tax preparation services will need to be paid directly to FPIS, Inc.
Asset management fees are paid in arears and billed against investment accounts with each update although clients may pay fees directly to FPIS, Inc. Updates occur on a quarterly basis, unless the account value falls below $200,000, in which case, updates may be annually or semi-annually. Annual fees range from 0.60% - 1.25%, depending on the amount of assets under management. Fees are due regardless of market performance.
The fee is calculated as follows: The market value of the assets under management on the quarterly update multiplied by ¼ of the Annual Asset Management Advisory Fee. If assets under management fall below $200,000 then a different update schedule may apply (semi-annual or annual); however, the Annual Asset Management Advisory Fee will remain the same.
A new client is charged an initial fee based on the total assets under management when they become a client. As a client’s assets increase the Annual Asset Management Advisory Fee may be subject to a tiered fee based on FPIS’s Fee Schedule. For example, a client with $500,000 under management would initially be charged an Annual Asset Management Advisory Fee of 1.0% on the total. If the portfolio grows to $800,000, an Annual Asset Management Advisory Fee of 1.0% would be charged on $600,000 and a fee of 0.75% would be charged for $200,000.