Retirement Advisors in Charlotte NC

Fee Schedule

Retirement Plans: Fees on retirement plans are negotiable. Consulting on retirement plans is billed at a negotiated per project rate or at $300/hour. However, the first meeting with our Retirement Advisors in Charlotte NC is done at no charge.

Management of retirement plans is at a negotiated fee and is based on a variety of factors including the number of locations, number of participants, asset level, investment committee or not, projected frequency of reports and meetings, work needed and so on.

Covered Services: Advisory fees cover client meetings, phone calls, investment management, research, supervision of accounts, asset allocation, planning, reports, administration, regulatory compliance and other services necessary to the offering of continuous management and service on your accounts.

Setup Fee: The setup fee applies to assets managed for individuals, not qualified retirement plans. The $300.00 per client fee is due when the contract is signed. Exceptions are made for a new client that is closely related (e.g. spouse, brother or mother but not cousin) and for participants of retirement plans that are clients of CIS at the time.

Advisory Fee Schedule: Advisory fees apply to all assets in client accounts on which Cornerstone Investment Services has been granted a power of attorney to manage assets unless Cornerstone Investment Services has specifically agreed in writing before the start of the billing period to exclude specified assets. Our Retirement Advisors in Charlotte NC fee rates above the breakpoints are not retroactive to lower levels of assets. The quarterly advisory fee rates are:

$0 – $500,000
$501,000 to $1,000,000
$1,100,001 to $2,000,000
$2,000,000 and over

Retirement Readiness Charlotte

Calculation of Advisory Fees: Fees are paid in arrears and are calculated on the first business day of the calendar quarter. Retirement Readiness Charlotte advisory fees are calculated by multiplying the rate per calendar quarter times the closing total market value of the account on the last business day of the preceding calendar quarter times the fraction of the quarter for which assets were under management.

Hourly Fee Alternative: Anyone receiving advice for a limited project but not investment management pays for services at the rate of $300 per hour for all time expended, including but limited to meetings, phone calls, emails, research and preparation. Fees are billed in fifteen minute blocks. There is no charge for the first consultation if no contract is signed for further service. The setup fee and advisory fee do not apply to hourly clients.

Pro-ration and Termination: For new accounts, the time assets are under management begins when the assets are received at the custodian firm by way of deposit or transfer from another firm. In the event of termination the advisory fee is pro-rated from the beginning of the calendar quarter through the date notice of termination is received from the client and is then due immediately. Individual deposits or withdrawals of at least $1,000 will be prorated in computing the quarterly advisory fee.

Payment Options: Clients may choose to either have fees automatically deducted from their account on or about the first business day of the quarter or to be invoiced on the same date. Invoiced fees are due upon receipt. If fees are automatically deducted a client letter is sent at the same time detailing the fee calculation.

Late Penalty: Fees not received by thirty (30) calendar days from the invoice date will accrue interest at the rate of eight percent (8%) per annum.

Other Costs: Retirement Advisors in Charlotte NC fees paid to Cornerstone Investment Services, Inc. do not include the cost of any fees or charges which may be levied by other firms. Charges by a broker-dealer may include, but are not limited to, markups or commissions to buy or sell stocks or bonds and mutual fund transaction costs, if any. The broker-dealer or mutual fund may charge a short-term redemption fee if the fund is not held a certain number of days. Mutual funds have internal transaction costs to buy and sell assets as well as internal expenses represented by the operating expense ratio (OER) in the fund’s prospectus. Payment of any charges by other firms is the responsibility of the client. Cornerstone Investment Services makes every effort to negotiate the lowest fees on behalf of clients and considers expenses when choosing broker-dealers and individual investments. It buys no-load mutual funds only.

Replacement of Previous Fee Schedule: This fee schedule replaces the previous schedule for all clients. Those clients currently billed in advance will continue to be billed in advance unless notified otherwise and in either case will be subject to the rates and terms listed in this fee schedule.

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