Investment Management Fees and Costs

INVESTMENT MANAGMENT - For investment management clients we plan, invest, and monitor the assets made available to us on a limited discretionary basis, usually through Fidelity Investments. The annual fee for comprehensive investment management services shall vary (between 0.50% and 1.00%) depending upon the market value of the assets under management and the type of investment management services to be rendered. Investment management fees are paid quarterly, in advance, based upon the following schedule:

WE ARE NO LONGER ACCEPTING CLIENTS FOR OUR INVESTMENT MANAGEMENT SERVICES WITH ASSETS UNDER $500,000

All Discretionary Portfolios

PORTFOLIO VALUE				ANNUAL FEE
$0 -		$499,999		1.00%
$500,000 -		$2,999,999		0.80%
$3,000,000 -		$5,999,999		0.70%
$6,000,000		$9,999,999		0.60%
greater than		$10,000,000		0.50%

Passive Accounts [Employee 401(K) Plans, annuities or other passive accounts at managements discretion]

PORTFOLIO VALUE				ANNUAL FEE
up to $10,000,000				0.50%
greater than $10,000,000				negotiable

NOTE 1 - Investment Management is offered as a separate service from financial planning, and vica-versa. Our investment management services do not include ongoing financial planning unless agreed in writing.

OTHER INVESTMENT COSTS:

As with all investment related advice platforms, there are a variety of potential costs. We are diligent in our effort to control all costs and taxes and provide clients with details regarding all the fees and expenses they may incur. These include:

Mutual Fund Management Fees and Expenses.

These are the fees and expenses associated with the management of mutual funds, ETFs and other similar investments. For any particular portfolio, the total cost will be a function of the allocation between bonds and stocks. We estimate that across all investments, these costs will average about .60% and is separate from Noyes Capital's Investment Management fees.

Custodian Fees - Fidelity Investments Execution Costs Fidelity’s current fee schedule is based upon family assets held at Fidelity. For assets over $1 million, Fidelity charges $8.00 per equity trade (up to 1000 shares) and $17.95 for accounts with assets under $1 million.  Fidelity’s wholly owned custodian is called National Financial Services, and has over 10,000 Mutual Funds available on its Mutual Fund Network platform. Some of these mutual funds are in their No-Transaction Fee program, others are not. When a mutual fund requires a fee, that fee is at a flat rate of $40.00. See Fidelity’s website for more complete information