Below is a hypothetical example of how the AUM fee works:
- If your account is valued at $10,000.00, and hypothetically speaking, remains at a constant $10,000.00 throughout the year, your discretionary management fee will be $10,000.00 x 0.0075 = $75 per year, or $6.25 per month
Please note that OneVest only charges management fees when your funds are invested. OneVest does not charge fees for any funds that are on hold, or for any funds held as cash when you are liquidating your account. A record of the fees charged to your account is available in your monthly statement.
All Management Expense Ratio (MER)1 on 3rd party investment products in the model portfolios are charged within the products themselves.
In other words, you will not see this listed as a line item on your account statements.
Depending on the type of model portfolio you own, your average overall MER paid on the products included in your portfolio may range from 0.40-0.60%2:
Other Applicable Account Fees:
Please see our custodian institution, CI Investment Services' Administrative Charges schedule for a full list of their applicable account fees.
1 - The Management Expense Ratio (MER) represents the combined total of the management fee, operating expenses, and taxes charged to a fund during a given year expressed as a percentage of a fund's average net assets for that year. All mutual funds and exchange-traded funds have an MER. MER also includes any applicable sales taxes.
2 - On select 3rd party investment products, a performance fee may be charged on excess returns when the investment returns exceed a specified performance benchmark. Performance fees are included in the MER calculation and thus the total reported MER may appear higher for investment products with a performance fee, compared to investment products without a performance fee.